Berry Global Group, Inc. (NYSE:BERY) Stake Lessened by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its holdings in Berry Global Group, Inc. (NYSE:BERY) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,360 shares of the industrial products company’s stock after selling 374 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of Berry Global Group worth $6,130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Berry Global Group during the 4th quarter worth about $31,000. Blue Trust Inc. boosted its holdings in shares of Berry Global Group by 203.7% during the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 436 shares during the period. Quarry LP grew its position in Berry Global Group by 433.1% during the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 615 shares in the last quarter. CWM LLC increased its stake in Berry Global Group by 200.0% in the 4th quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,050 shares during the period. Finally, First Hawaiian Bank lifted its position in Berry Global Group by 11.2% in the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after buying an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Insider Buying and Selling at Berry Global Group

In related news, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the completion of the sale, the chief financial officer now owns 119,384 shares in the company, valued at $7,197,661.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total transaction of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares of the company’s stock, valued at $262,216.50. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Berry Global Group Stock Performance

BERY stock traded up $0.75 during mid-day trading on Friday, reaching $61.94. 70,105 shares of the stock traded hands, compared to its average volume of 1,106,863. The firm has a market capitalization of $7.09 billion, a PE ratio of 14.53, a P/E/G ratio of 1.23 and a beta of 1.16. The business has a 50-day moving average of $59.79 and a two-hundred day moving average of $60.74. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $69.93. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64.

Berry Global Group (NYSE:BERY) last announced its earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.05. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 EPS. As a group, equities analysts predict that Berry Global Group, Inc. will post 7.43 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s payout ratio is currently 26.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Truist Financial reiterated a “hold” rating and set a $68.00 price target (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Robert W. Baird restated a “neutral” rating and set a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus price target of $72.60.

Berry Global Group Company 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.