Berry Global Group, Inc. (NYSE:BERY) Stake Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in Berry Global Group, Inc. (NYSE:BERY) by 23.9% in the first quarter, Holdings Channel.com reports. The fund owned 37,192 shares of the industrial products company’s stock after acquiring an additional 7,168 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Berry Global Group were worth $2,249,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Berry Global Group during the fourth quarter worth approximately $31,000. Blue Trust Inc. grew its stake in shares of 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 lifted its position 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 last quarter. CWM LLC boosted its holdings in shares of Berry Global Group by 200.0% during the 4th quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,050 shares during the period. Finally, First Hawaiian Bank increased its position in Berry Global Group by 11.2% during the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after buying an additional 376 shares during the period. 95.36% of the stock is owned by institutional investors.

Berry Global Group Price Performance

Shares of Berry Global Group stock traded up $1.34 on Friday, hitting $62.53. The company’s stock had a trading volume of 1,017,434 shares, compared to its average volume of 1,199,677. The firm has a fifty day moving average price of $59.87 and a 200-day moving average price of $60.65. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.30 and a beta of 1.16. 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 announced 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. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 EPS. As a group, sell-side analysts anticipate that Berry Global Group, Inc. will post 7.44 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Monday, June 3rd. Berry Global Group’s dividend payout ratio is currently 26.13%.

Insiders Place Their Bets

In other 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 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 can be accessed through this hyperlink. In other news, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the purchase, the director now directly owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Miles sold 1,118 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the transaction, the chief financial officer now directly owns 119,384 shares in the company, valued at approximately $7,197,661.36. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Analyst Ratings Changes

BERY has been the subject of a number of research reports. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 target price (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Truist Financial restated a “hold” rating and set a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, Bank of America increased their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and a consensus target price of $72.60.

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.