Geode Capital Management LLC Purchases 27,437 Shares of Berry Global Group, Inc. (NYSE:BERY)

Geode Capital Management LLC grew its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,982,517 shares of the industrial products company’s stock after buying an additional 27,437 shares during the quarter. Geode Capital Management LLC’s holdings in Berry Global Group were worth $134,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BERY. EdgePoint Investment Group Inc. grew its position in Berry Global Group by 2.2% during the 3rd 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 during the last quarter. State Street Corp grew 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 worth $260,487,000 after purchasing an additional 360,857 shares during the last quarter. FMR LLC grew its holdings in shares of Berry Global Group by 38.4% during the third 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after buying an additional 807,211 shares in the last quarter. Finally, Eminence Capital LP raised its holdings in shares of Berry Global Group by 22.2% in the second 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 during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analysts Set New Price Targets

BERY has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Truist Financial reiterated a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. StockNews.com started coverage on Berry Global Group in a research report on Wednesday, December 11th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Price Performance

BERY opened at $67.61 on Tuesday. The stock has a market cap of $7.79 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.38 and a beta of 1.14. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a fifty day simple moving average of $69.07 and a 200 day simple moving average of $65.63.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s dividend payout ratio is presently 28.25%.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the sale, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group 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.