William Blair Investment Management LLC Sells 61,297 Shares of Berry Global Group, Inc. (NYSE:BERY)

William Blair Investment Management LLC reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 631,259 shares of the industrial products company’s stock after selling 61,297 shares during the period. William Blair Investment Management LLC owned 0.54% of Berry Global Group worth $38,179,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BERY. Comerica Bank bought a new stake in Berry Global Group during the 3rd quarter valued at approximately $5,497,000. Teachers Retirement System of The State of Kentucky raised its stake in Berry Global Group by 96.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock valued at $2,488,000 after purchasing an additional 19,674 shares during the period. Sound Income Strategies LLC raised its stake in Berry Global Group by 10.6% during the 4th quarter. Sound Income Strategies LLC now owns 37,966 shares of the industrial products company’s stock valued at $2,559,000 after purchasing an additional 3,648 shares during the period. SG Americas Securities LLC raised its stake in Berry Global Group by 643.5% during the 4th quarter. SG Americas Securities LLC now owns 12,082 shares of the industrial products company’s stock valued at $814,000 after purchasing an additional 10,457 shares during the period. Finally, Raymond James & Associates raised its stake in Berry Global Group by 10.2% during the 4th quarter. Raymond James & Associates now owns 221,583 shares of the industrial products company’s stock valued at $14,932,000 after purchasing an additional 20,422 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 0.7 %

BERY traded down $0.45 during trading hours on Wednesday, reaching $63.82. 709,622 shares of the company’s stock traded hands, compared to its average volume of 1,106,296. The firm has a 50-day moving average price of $60.04 and a 200 day moving average price of $60.56. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64. The firm has a market capitalization of $7.30 billion, a PE ratio of 15.16, a PEG ratio of 1.27 and a beta of 1.16.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.05. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business earned $1.96 EPS. Berry Global Group’s revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Berry Global Group, Inc. will post 7.44 EPS for the current fiscal 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 issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s dividend payout ratio is 26.13%.

Analyst Ratings Changes

BERY has been the topic of a number of research reports. Bank of America lifted their price objective on Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. UBS Group reduced their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Truist Financial reaffirmed a “hold” rating and issued a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $71.40.

Insiders Place Their Bets

In other Berry Global Group news, 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 completion of the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at approximately $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 transaction 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 approximately $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 price of $59.50 per share, with a total value of $59,500.00. Following the completion of the purchase, the director now directly owns 4,407 shares in the company, valued at $262,216.50. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Berry Global Group 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.