Thrivent Financial for Lutherans Trims Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Thrivent Financial for Lutherans lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 30.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 26,965 shares of the industrial products company’s stock after selling 11,745 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Berry Global Group were worth $1,744,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares during the period. Alpine Associates Management Inc. acquired a new position in Berry Global Group in the 4th quarter worth about $38,323,000. Calamos Advisors LLC purchased a new position in Berry Global Group during the fourth quarter worth approximately $35,568,000. State Street Corp grew its holdings in Berry Global Group by 10.4% in 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 period. Finally, EdgePoint Investment Group Inc. increased its position in shares of Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. StockNews.com began coverage on shares of Berry Global Group in a research note on Tuesday, March 25th. They issued a “buy” rating on the stock. UBS Group lifted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Truist Financial upped their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Trading Down 0.8 %

Shares of Berry Global Group stock opened at $69.46 on Friday. The stock’s 50 day simple moving average is $70.20 and its 200-day simple moving average is $68.62. The stock has a market cap of $8.04 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.54 and a beta of 1.13. 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, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is presently 30.92%.

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.