MetLife Investment Management LLC Decreases Holdings in Berry Global Group, Inc. (NYSE:BERY)

MetLife Investment Management LLC lessened its holdings in Berry Global Group, Inc. (NYSE:BERY) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,229 shares of the industrial products company’s stock after selling 1,037 shares during the period. MetLife Investment Management LLC’s holdings in Berry Global Group were worth $4,026,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its stake in shares of Berry Global Group by 5.3% in the third quarter. Glenmede Trust Co. NA now owns 205,497 shares of the industrial products company’s stock worth $13,970,000 after buying an additional 10,327 shares during the period. Townsquare Capital LLC purchased a new position in shares of Berry Global Group in the third quarter worth $201,000. BNP Paribas Financial Markets boosted its holdings in shares of Berry Global Group by 36.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,408 shares of the industrial products company’s stock valued at $979,000 after purchasing an additional 3,830 shares during the last quarter. FMR LLC boosted its stake in 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 valued at $258,821,000 after buying an additional 1,055,756 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Berry Global Group by 24.5% during the 3rd quarter. Bank of Montreal Can now owns 251,873 shares of the industrial products company’s stock valued at $17,349,000 after acquiring an additional 49,609 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Down 1.0 %

Shares of NYSE BERY opened at $71.28 on Tuesday. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $73.31. The firm has a market capitalization of $8.21 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.44 and a beta of 1.14. The stock has a 50 day moving average price of $68.69 and a 200 day moving average price of $64.93. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.26 and a current ratio of 1.25.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.74%. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, December 2nd. Berry Global Group’s dividend payout ratio is currently 28.25%.

Analysts Set New Price Targets

A number of brokerages recently commented on BERY. Barclays increased 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 report on Wednesday, November 27th. UBS Group cut shares of Berry Global Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $82.00 to $75.00 in a research report on Friday, November 22nd. Royal Bank of Canada increased their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus price target of $73.73.

Insider Transactions at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.