Berry Global Group, Inc. (NYSE:BERY) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its stake in Berry Global Group, Inc. (NYSE:BERY) by 44.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 54,682 shares of the industrial products company’s stock after purchasing an additional 16,716 shares during the quarter. Sound Income Strategies LLC’s holdings in Berry Global Group were worth $3,307,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in shares of Berry Global Group during the fourth quarter worth approximately $2,237,000. Goldman Sachs Group Inc. raised its stake in Berry Global Group by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after acquiring an additional 48,484 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Berry Global Group by 96.0% in the 3rd 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 acquiring an additional 19,674 shares during the period. South Dakota Investment Council purchased a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $2,508,000. Finally, AQR Capital Management LLC boosted its holdings in Berry Global Group by 2.3% during the third quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after buying 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 Up 0.2 %

NYSE BERY traded up $0.10 during trading hours on Wednesday, hitting $60.56. 756,914 shares of the company traded hands, compared to its average volume of 1,124,244. The business’s 50-day moving average is $59.27 and its 200-day moving average is $61.37. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.26 and a beta of 1.19. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74.

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 firm 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 business’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 EPS. Sell-side analysts anticipate that Berry Global Group, Inc. will post 7.43 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.82%. Berry Global Group’s dividend payout ratio is currently 26.13%.

Insider Activity at Berry Global Group

In other news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the transaction, the chief financial officer now directly owns 119,384 shares of the company’s stock, valued at approximately $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter T. Thomas acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the purchase, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of the business’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 completion of the sale, the chief financial officer now directly 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 owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on BERY shares. Bank of America upped their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 10th. Royal Bank of Canada restated 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. Truist Financial reaffirmed a “hold” rating and issued a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Robert W. Baird reaffirmed a “neutral” rating and issued 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, StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.