LSV Asset Management Sells 23,015 Shares of Berry Global Group, Inc. (NYSE:BERY)

LSV Asset Management decreased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,307,198 shares of the industrial products company’s stock after selling 23,015 shares during the period. LSV Asset Management’s holdings in Berry Global Group were worth $260,499,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Comerica Bank purchased a new stake in shares of Berry Global Group in the third quarter valued at about $5,497,000. Hudson Bay Capital Management LP increased its holdings in Berry Global Group by 16.7% during the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock worth $4,334,000 after buying an additional 10,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Berry Global Group by 96.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock worth $2,488,000 after buying an additional 19,674 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Berry Global Group by 10.6% during the fourth quarter. Sound Income Strategies LLC now owns 37,966 shares of the industrial products company’s stock worth $2,559,000 after buying an additional 3,648 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Berry Global Group by 643.5% during the fourth quarter. SG Americas Securities LLC now owns 12,082 shares of the industrial products company’s stock worth $814,000 after buying an additional 10,457 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Peter T. Thomas bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Berry Global Group news, Director Peter T. Thomas bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction 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 sale, 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 company insiders.

Berry Global Group Trading Up 2.2 %

NYSE:BERY traded up $1.34 during trading hours on Friday, hitting $62.53. The company had a trading volume of 1,017,434 shares, compared to its average volume of 1,114,206. The company has a market capitalization of $7.15 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16. The stock has a 50-day moving average price of $59.79 and a 200 day moving average price 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 debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01.

Berry Global Group (NYSE:BERY) last released its quarterly 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 business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. On average, equities research analysts predict that Berry Global Group, Inc. will post 7.43 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

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.