Allspring Global Investments Holdings LLC Trims Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Allspring Global Investments Holdings LLC decreased its stake in Berry Global Group, Inc. (NYSE:BERY) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 833,200 shares of the industrial products company’s stock after selling 2,134 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Berry Global Group were worth $53,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BERY. Creative Planning increased its position in Berry Global Group by 5.9% in the second quarter. Creative Planning now owns 6,629 shares of the industrial products company’s stock worth $390,000 after buying an additional 372 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Berry Global Group in the third quarter worth about $152,000. CWM LLC increased its position in Berry Global Group by 340.0% in the third quarter. CWM LLC now owns 8,843 shares of the industrial products company’s stock worth $601,000 after buying an additional 6,833 shares in the last quarter. Blue Trust Inc. increased its position in Berry Global Group by 149.3% in the third quarter. Blue Trust Inc. now owns 3,829 shares of the industrial products company’s stock worth $260,000 after buying an additional 2,293 shares in the last quarter. Finally, Raymond James & Associates increased its position in Berry Global Group by 32.3% in the third quarter. Raymond James & Associates now owns 261,538 shares of the industrial products company’s stock worth $17,779,000 after buying an additional 63,836 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Analysts Set New Price Targets

BERY has been the subject of a number of analyst reports. Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial upped their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday. UBS Group upped their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays upped their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $70.42 on Friday. The stock has a 50 day moving average of $67.30 and a 200 day moving average of $67.42. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $73.31. The firm has a market cap of $8.15 billion, a PE ratio of 17.56, a PEG ratio of 1.50 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company earned $1.22 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Berry Global Group, Inc. will post 6.3 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

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.