Retirement Systems of Alabama Sells 2,374 Shares of Berry Global Group, Inc. (NYSE:BERY)

Retirement Systems of Alabama cut its stake in Berry Global Group, Inc. (NYSE:BERY) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,540 shares of the industrial products company’s stock after selling 2,374 shares during the period. Retirement Systems of Alabama owned 0.13% of Berry Global Group worth $8,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Berry Global Group in the 4th quarter valued at $81,617,000. TD Asset Management Inc acquired a new position in Berry Global Group during the 4th quarter valued at about $23,803,000. Epoch Investment Partners Inc. boosted its stake in shares of Berry Global Group by 39.1% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,033,568 shares of the industrial products company’s stock valued at $69,652,000 after purchasing an additional 290,781 shares during the last quarter. Boone Capital Management LLC acquired a new stake in shares of Berry Global Group during the 4th quarter worth approximately $15,598,000. Finally, LSV Asset Management raised its stake in shares of Berry Global Group by 4.1% during the fourth quarter. LSV Asset Management now owns 4,330,213 shares of the industrial products company’s stock worth $291,813,000 after buying an additional 170,317 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

NYSE:BERY traded down $1.09 during mid-day trading on Friday, hitting $58.01. The stock had a trading volume of 1,639,793 shares, compared to its average volume of 1,122,851. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.23 and a beta of 1.16. The company’s 50 day simple moving average is $59.62 and its 200 day simple moving average is $61.05.

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

Berry Global Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BERY. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Bank of America boosted their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Truist Financial reiterated a “hold” rating and set a $68.00 target price (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Finally, StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.60.

Insider Buying and Selling

In other news, CFO Mark W. Miles sold 1,118 shares of the company’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 value of $67,404.22. Following the transaction, the chief financial officer now owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Berry Global Group news, Director Peter T. Thomas acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was acquired 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 of the company’s stock, valued at $262,216.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of the 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 transaction, the chief financial officer now owns 119,384 shares in the company, valued at approximately $7,197,661.36. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

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.