Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 39.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,577 shares of the industrial products company's stock after selling 188,774 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.25% of Berry Global Group worth $19,582,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC lifted its holdings in shares of Berry Global Group by 53.1% in the 4th quarter. Oak Thistle LLC now owns 13,484 shares of the industrial products company's stock worth $909,000 after acquiring an additional 4,675 shares during the last quarter. Blue Trust Inc. increased its stake in Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company's stock worth $40,000 after buying an additional 436 shares during the period. Tectonic Advisors LLC increased its stake in Berry Global Group by 1.6% in the 4th quarter. Tectonic Advisors LLC now owns 139,869 shares of the industrial products company's stock worth $9,426,000 after buying an additional 2,168 shares during the period. Assenagon Asset Management S.A. purchased a new position in Berry Global Group in the 4th quarter worth about $5,611,000. Finally, Pacer Advisors Inc. increased its stake in Berry Global Group by 63.6% in the 4th quarter. Pacer Advisors Inc. now owns 25,330 shares of the industrial products company's stock worth $1,707,000 after buying an additional 9,844 shares during the period. Institutional investors own 95.36% of the company's stock.

Berry Global Group Stock Performance

BERY stock traded up $0.04 during trading on Monday, reaching $56.42. The company had a trading volume of 820,682 shares, compared to its average volume of 1,183,709. The firm has a 50-day simple moving average of $59.12 and a 200-day simple moving average of $61.57. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. Berry Global Group, Inc. has a twelve month low of $53.83 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the business earned $1.30 earnings per share. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Berry Global Group, Inc. will post 7.42 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, February 29th. Berry Global Group's payout ratio is 23.66%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BERY. Wolfe Research began coverage on shares of Berry Global Group in a research note on Friday, March 1st. They issued a "peer perform" rating on the stock. Mizuho cut their target price on shares of Berry Global Group from $74.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, February 8th. StockNews.com downgraded shares of Berry Global Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 8th. TheStreet downgraded shares of Berry Global Group from a "b-" rating to a "c+" rating in a research report on Monday, February 26th. Finally, Barclays cut their price objective on shares of Berry Global Group from $67.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $72.78.

Insider Buying and Selling at Berry Global Group

In other news, Director Jonathan F. Foster purchased 1,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the acquisition, the director now owns 5,728 shares of the company's stock, valued at approximately $335,030.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jonathan F. Foster purchased 1,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the acquisition, the director now owns 5,728 shares of the company's stock, valued at approximately $335,030.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter T. Thomas purchased 2,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at approximately $112,000. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company's stock.

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.