Oak Thistle LLC Lowers Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Oak Thistle LLC lessened its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 60.1% in the first quarter, Holdings Channel reports. The firm owned 5,385 shares of the industrial products company’s stock after selling 8,099 shares during the period. Oak Thistle LLC’s holdings in Berry Global Group were worth $326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HighTower Advisors LLC lifted its stake in shares of Berry Global Group by 53.4% during the third quarter. HighTower Advisors LLC now owns 6,098 shares of the industrial products company’s stock worth $376,000 after purchasing an additional 2,123 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Berry Global Group during the 3rd quarter worth approximately $226,000. O Shaughnessy Asset Management LLC boosted its holdings in Berry Global Group by 71.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 13,377 shares of the industrial products company’s stock worth $828,000 after acquiring an additional 5,570 shares during the period. Tower Research Capital LLC TRC grew its position in Berry Global Group by 17.0% in the third quarter. Tower Research Capital LLC TRC now owns 12,860 shares of the industrial products company’s stock valued at $796,000 after acquiring an additional 1,870 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Berry Global Group by 2.3% in the third quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock valued at $62,230,000 after acquiring an additional 22,137 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

BERY stock opened at $58.19 on Tuesday. The stock’s 50 day simple moving average is $59.48 and its 200 day simple moving average is $61.15. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The firm has a market cap of $6.66 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.23 and a beta of 1.17. 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 posted its quarterly earnings results on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.90 by $0.05. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business posted $1.96 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts predict that Berry Global Group, Inc. will post 7.43 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders 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 dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s payout ratio is 26.13%.

Wall Street Analysts Forecast Growth

BERY has been the subject of several analyst reports. Bank of America upped their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 10th. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (down 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 issued a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Finally, 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 note on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Berry Global Group currently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Buying and Selling

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

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.