JPMorgan Chase & Co. Sells 31,582 Shares of Berry Global Group, Inc. (NYSE:BERY)

JPMorgan Chase & Co. decreased its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 427,485 shares of the industrial products company’s stock after selling 31,582 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of Berry Global Group worth $29,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BERY. EdgePoint Investment Group Inc. boosted its stake in Berry Global Group by 2.2% during the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after acquiring an additional 336,186 shares in the last quarter. State Street Corp lifted its holdings in shares of Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares during the last quarter. FMR LLC boosted its position in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares during the last quarter. Finally, Eminence Capital LP increased its position in Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after buying an additional 492,793 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Insider Activity at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This trade represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is currently owned by company insiders.

Berry Global Group Stock Up 1.4 %

BERY stock opened at $66.03 on Wednesday. The business’s 50-day moving average is $67.84 and its two-hundred day moving average is $66.16. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.38 and a beta of 1.16. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.31 dividend. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.88%. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Analysts Set New Price Targets

BERY has been the topic of a number of analyst reports. Truist Financial upped their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday. UBS Group downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Barclays raised their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada upped their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Finally, StockNews.com initiated coverage on Berry Global Group in a report on Saturday. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.60.

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.