Eagle Asset Management Inc. Has $13.27 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Eagle Asset Management Inc. grew its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 14.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,222 shares of the industrial products company’s stock after purchasing an additional 24,784 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.17% of Berry Global Group worth $13,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after purchasing an additional 9,483 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Berry Global Group in the first quarter worth approximately $691,000. BOKF NA lifted its stake in shares of Berry Global Group by 26.3% in the first quarter. BOKF NA now owns 79,330 shares of the industrial products company’s stock worth $4,809,000 after acquiring an additional 16,497 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Berry Global Group by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after acquiring an additional 37,242 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in Berry Global Group by 370.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 114,868 shares of the industrial products company’s stock valued at $6,760,000 after purchasing an additional 90,428 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Up 1.1 %

BERY stock opened at $71.71 on Friday. Berry Global Group, Inc. has a twelve month low of $54.06 and a twelve month high of $72.50. The firm has a market capitalization of $8.22 billion, a PE ratio of 16.33, a P/E/G ratio of 1.39 and a beta of 1.14. The stock’s 50 day moving average is $68.22 and its 200-day moving average is $64.40. The company has a quick ratio of 1.08, a current ratio of 0.41 and a debt-to-equity ratio of 2.57.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s dividend payout ratio is currently 25.06%.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BERY. UBS Group lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $82.00 to $75.00 in a research note on Friday. Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday. Truist Financial reissued a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research report on Wednesday. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and an average target price of $72.00.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.