Teachers Retirement System of The State of Kentucky Sells 1,900 Shares of Berry Global Group, Inc. (NYSE:BERY)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,274 shares of the industrial products company’s stock after selling 1,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Berry Global Group were worth $2,580,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Berry Global Group during the fourth quarter worth about $31,000. Blue Trust Inc. lifted its stake in Berry Global Group by 203.7% in 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 in the last quarter. Quarry LP boosted its holdings in shares of Berry Global Group by 433.1% in the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after buying an additional 615 shares during the period. CWM LLC increased its position in shares of Berry Global Group by 200.0% during the fourth quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Berry Global Group during the third quarter worth $226,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter T. Thomas purchased 1,000 shares of the firm’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 completion of the purchase, 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 SEC, which is accessible through this hyperlink. In related news, 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 value 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter T. Thomas purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were acquired at an average price of $59.50 per share, with a total value of $59,500.00. Following the completion of the acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BERY shares. Wolfe Research assumed coverage on shares of Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Bank of America lifted their price objective 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. TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Truist Financial reiterated a “hold” rating and issued a $68.00 price target (down from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Finally, Robert W. Baird reiterated 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. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.60.

Berry Global Group Price Performance

Shares of BERY stock opened at $60.86 on Friday. The business has a fifty day simple moving average of $59.01 and a 200 day simple moving average of $61.53. The company has a market cap of $6.96 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.26 and a beta of 1.19. 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, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last posted its earnings results on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.05. The firm 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 business’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 business earned $1.96 earnings per share. On average, sell-side analysts forecast that Berry Global Group, Inc. will post 7.43 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.81%. Berry Global Group’s dividend payout ratio (DPR) is presently 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.