Bridgewater Associates LP Cuts Stake in Berry Global Group, Inc. (NYSE:BERY)

Bridgewater Associates LP trimmed its stake in Berry Global Group, Inc. (NYSE:BERY) by 64.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,256 shares of the industrial products company’s stock after selling 89,492 shares during the quarter. Bridgewater Associates LP’s holdings in Berry Global Group were worth $3,416,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. EdgePoint Investment Group Inc. boosted its holdings in shares of Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after purchasing an additional 1,393,955 shares during the last quarter. FMR LLC raised its position in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after buying an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 807,211 shares during the last quarter. Eminence Capital LP grew its position in Berry Global Group by 22.2% during 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 acquiring an additional 492,793 shares during the period. Finally, AQR Capital Management LLC grew its position in Berry Global Group by 29.2% during the second quarter. AQR Capital Management LLC now owns 1,438,866 shares of the industrial products company’s stock valued at $84,677,000 after acquiring an additional 325,562 shares during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BERY shares. Truist Financial restated a “hold” rating and issued a $72.00 price objective (down from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.73.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Berry Global Group Price Performance

Shares of BERY stock opened at $72.31 on Friday. The firm has a fifty day moving average of $68.62 and a two-hundred day moving average of $64.79. The firm has a market cap of $8.29 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.43 and a beta of 1.14. Berry Global Group, Inc. has a 1-year low of $54.06 and a 1-year high of $73.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.26.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.31 dividend. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.71%. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

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.