Edgestream Partners L.P. Grows Stake in Berry Global Group, Inc. (NYSE:BERY)

Edgestream Partners L.P. increased its holdings in Berry Global Group, Inc. (NYSE:BERY) by 1,161.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,911 shares of the industrial products company’s stock after purchasing an additional 37,668 shares during the period. Edgestream Partners L.P.’s holdings in Berry Global Group were worth $2,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Berry Global Group during the 4th quarter valued at about $31,000. Blue Trust Inc. boosted its stake in Berry Global Group by 203.7% during the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after buying an additional 436 shares during the last quarter. Quarry LP grew its holdings in Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after buying an additional 615 shares in the last quarter. CWM LLC grew its holdings in Berry Global Group by 200.0% during 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 in the last quarter. Finally, Versor Investments LP bought a new stake in Berry Global Group in the 4th quarter worth approximately $238,000. 95.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BERY shares. UBS Group lowered their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America boosted their target price 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. Robert W. Baird restated a “neutral” rating and set a $65.00 target price (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Truist Financial reiterated a “hold” rating and issued a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Finally, StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and an average target price of $71.40.

Insider Buying and Selling at Berry Global Group

In other news, CFO Mark W. Miles sold 1,118 shares of the firm’s stock in a transaction 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 $7,197,661.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Peter T. Thomas purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the acquisition, the director now owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Berry Global Group Trading Up 0.9 %

Shares of NYSE BERY traded up $0.59 during mid-day trading on Tuesday, reaching $63.92. The company had a trading volume of 67,961 shares, compared to its average volume of 1,091,885. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $69.93. The business’s 50-day moving average is $60.24 and its 200-day moving average is $60.46. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64.

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 the consensus estimate of $1.90 by $0.05. The company had revenue of $3.08 billion during 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 quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. Equities analysts expect that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders 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 1.72%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

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.