Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,274 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Berry Global Group were worth $2,534,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. EdgePoint Investment Group Inc. raised its position in Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after buying an additional 1,393,955 shares during the last quarter. FMR LLC raised its holdings 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 worth $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its position 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 purchasing an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Berry Global Group by 280.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after purchasing an additional 588,114 shares during the period. Finally, Eminence Capital LP boosted its holdings in Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after purchasing an additional 492,793 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BERY shares. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial restated a “hold” rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. StockNews.com started coverage on shares of Berry Global Group in a report on Wednesday, December 11th. They issued a “buy” rating for the company. Finally, Citigroup reissued a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.73.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.00% of the stock is owned by corporate insiders.

Berry Global Group Stock Performance

Berry Global Group stock opened at $67.94 on Monday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The stock has a fifty day moving average of $69.05 and a two-hundred day moving average of $65.56. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.38 and a beta of 1.14.

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 dividend on an annualized basis and a yield of 1.83%. This is a positive change 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 28.25%.

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.