Principal Financial Group Inc. Sells 2,611 Shares of Berry Global Group, Inc. (NYSE:BERY)

Principal Financial Group Inc. lowered its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 262,743 shares of the industrial products company’s stock after selling 2,611 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Berry Global Group worth $16,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after purchasing an additional 27,437 shares in the last quarter. Sound Income Strategies LLC raised its position in Berry Global Group by 13.4% in the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after buying an additional 8,622 shares during the last quarter. Hancock Whitney Corp bought a new stake in Berry Global Group in the 3rd quarter valued at approximately $1,065,000. Integrated Investment Consultants LLC acquired a new position in Berry Global Group during the 3rd quarter worth approximately $714,000. Finally, Barclays PLC grew its stake in shares of Berry Global Group by 87.1% during the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after acquiring an additional 47,476 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Trading Up 0.8 %

Shares of NYSE:BERY opened at $72.56 on Wednesday. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $73.31. The stock’s fifty day moving average price is $67.79 and its 200-day moving average price is $67.91. The company has a market cap of $8.40 billion, a P/E ratio of 18.10, a PEG ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.71%. Berry Global Group’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of analysts have recently commented on BERY shares. Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada raised their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Barclays raised their price target on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Company Profile

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.