Raymond James & Associates grew its stake in shares of Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,823 shares of the industrial products company’s stock after buying an additional 5,203 shares during the period. Raymond James & Associates owned approximately 0.09% of Berry Global Group worth $5,901,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American National Bank bought a new position in shares of Berry Global Group during the 3rd quarter valued at about $33,000. Brown Brothers Harriman & Co. bought a new position in shares of Berry Global Group during the 1st quarter valued at about $38,000. Ronald Blue Trust Inc. bought a new stake in Berry Global Group in the 2nd quarter valued at approximately $40,000. Arlington Partners LLC bought a new stake in Berry Global Group in the 2nd quarter valued at approximately $46,000. Finally, Spire Wealth Management bought a new stake in Berry Global Group in the 2nd quarter valued at approximately $83,000. Institutional investors own 94.02% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. UBS Group boosted their target price on Berry Global Group from $69.00 to $75.00 in a research note on Friday, November 25th. Barclays boosted their target price on Berry Global Group from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 22nd. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Wells Fargo & Company lowered their price target on Berry Global Group from $74.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 12th. Finally, Mizuho lowered their price target on Berry Global Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.50.
Berry Global Group Stock Down 0.3 %
Berry Global Group (NYSE:BERY – Get Rating) last released its quarterly earnings results on Tuesday, November 15th. The industrial products company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.04. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.68 billion. Berry Global Group had a return on equity of 30.32% and a net margin of 5.28%. As a group, research analysts anticipate that Berry Global Group, Inc. will post 7.48 EPS for the current year.
Berry Global Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.00 annualized dividend and a yield of 1.62%. Berry Global Group’s dividend payout ratio (DPR) is presently 17.24%.
Insider Activity at Berry Global Group
In other news, EVP Jason K. Greene sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 250 shares in the company, valued at approximately $15,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
Berry Global Group Profile
Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.
- Get a free copy of the StockNews.com research report on Berry Global Group (BERY)
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