tru Independence LLC Has $4.18 Million Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

tru Independence LLC lowered its stake in Berry Global Group, Inc. (NYSE:BERY) by 2.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,185 shares of the industrial products company’s stock after selling 2,064 shares during the quarter. tru Independence LLC owned about 0.06% of Berry Global Group worth $4,184,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. M&T Bank Corp raised its holdings in Berry Global Group by 2.0% in the fourth quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 173 shares during the period. First Hawaiian Bank lifted its holdings in Berry Global Group by 11.2% during the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 376 shares in the last quarter. AGF Management Ltd. grew its stake in Berry Global Group by 2.6% in the fourth quarter. AGF Management Ltd. now owns 16,042 shares of the industrial products company’s stock valued at $1,081,000 after acquiring an additional 404 shares during the period. Blue Trust Inc. increased its holdings in shares of Berry Global Group by 203.7% in the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 436 shares in the last quarter. Finally, Guardian Wealth Management Inc. raised its position in shares of Berry Global Group by 1.4% during the fourth quarter. Guardian Wealth Management Inc. now owns 32,521 shares of the industrial products company’s stock worth $2,192,000 after purchasing an additional 445 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Berry Global Group stock traded down $0.17 during midday trading on Tuesday, reaching $58.03. 255,972 shares of the company’s stock were exchanged, compared to its average volume of 1,116,278. The stock’s 50-day simple moving average is $59.48 and its 200 day simple moving average is $61.15. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.23 and a beta of 1.17. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $69.93.

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

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s dividend payout ratio is 26.13%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

BERY has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Truist Financial restated a “hold” rating and set a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 25th. Finally, Bank of America boosted their price target on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 10th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

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.