Chesapeake Capital Corp IL Purchases Shares of 13,345 Berry Global Group, Inc. (NYSE:BERY)

Chesapeake Capital Corp IL purchased a new stake in Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,345 shares of the industrial products company’s stock, valued at approximately $899,000.

Other large investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in Berry Global Group in the 4th quarter valued at about $2,237,000. Teachers Retirement System of The State of Kentucky grew its position 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 in the last quarter. South Dakota Investment Council acquired a new stake in Berry Global Group during the fourth quarter worth approximately $2,508,000. AQR Capital Management LLC increased its stake in Berry Global Group by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after acquiring an additional 22,137 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Berry Global Group by 67.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock valued at $6,049,000 after acquiring an additional 39,200 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Price Performance

Shares of NYSE BERY traded up $0.81 during mid-day trading on Friday, hitting $59.42. 789,115 shares of the stock traded hands, compared to its average volume of 1,001,119. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93. The firm has a 50 day simple moving average of $58.84 and a two-hundred day simple moving average of $61.89. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The company has a market cap of $6.80 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.24 and a beta of 1.24.

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, topping the consensus estimate of $1.90 by $0.05. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 7.42 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, June 3rd. Berry Global Group’s payout ratio is currently 26.13%.

Insider Transactions at Berry Global Group

In related news, CFO Mark W. Miles sold 1,118 shares of the 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 completion of 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 the SEC website. In related 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 sale, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter T. Thomas purchased 1,000 shares of the stock in a transaction on 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 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 owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BERY shares. Royal Bank of Canada reissued a “sector perform” rating and set a $62.00 target price (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Wolfe Research assumed coverage on shares of Berry Global Group in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Barclays cut their price target on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Mizuho decreased their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Finally, StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

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.