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

Thrivent Financial for Lutherans trimmed its stake in Berry Global Group, Inc. (NYSE:BERY) by 30.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,965 shares of the industrial products company’s stock after selling 11,745 shares during the period. Thrivent Financial for Lutherans’ holdings in Berry Global Group were worth $1,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Natixis Advisors LLC increased its holdings in Berry Global Group by 5.1% during the 4th quarter. Natixis Advisors LLC now owns 56,841 shares of the industrial products company’s stock worth $3,676,000 after purchasing an additional 2,751 shares during the period. Picton Mahoney Asset Management grew its position in shares of Berry Global Group by 26,366.1% during the fourth quarter. Picton Mahoney Asset Management now owns 80,457 shares of the industrial products company’s stock worth $5,203,000 after buying an additional 80,153 shares in the last quarter. 12th Street Asset Management Company LLC increased its stake in shares of Berry Global Group by 0.7% during the fourth quarter. 12th Street Asset Management Company LLC now owns 416,654 shares of the industrial products company’s stock worth $26,945,000 after buying an additional 2,795 shares during the period. Commonwealth Equity Services LLC grew its holdings in Berry Global Group by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock worth $649,000 after acquiring an additional 241 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Berry Global Group during the 4th quarter worth approximately $1,444,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Berry Global Group Stock Down 0.8 %

BERY opened at $69.46 on Friday. The business has a 50 day moving average price of $70.20 and a two-hundred day moving average price of $68.62. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24. The company has a market cap of $8.04 billion, a PE ratio of 17.32, a P/E/G ratio of 1.54 and a beta of 1.13. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share 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 firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio is presently 30.92%.

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.