Texas Permanent School Fund Corp Sells 4,652 Shares of Berry Global Group, Inc. (NYSE:BERY)

Texas Permanent School Fund Corp cut its stake in shares of Berry Global Group, Inc. (NYSE:BERYFree Report) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,288 shares of the industrial products company’s stock after selling 4,652 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Berry Global Group worth $6,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Connable Office Inc. raised its holdings in Berry Global Group by 2.5% during the second quarter. Connable Office Inc. now owns 6,481 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 160 shares during the period. Guggenheim Capital LLC raised its holdings in Berry Global Group by 2.5% during the second quarter. Guggenheim Capital LLC now owns 6,983 shares of the industrial products company’s stock valued at $449,000 after acquiring an additional 168 shares during the period. Eqis Capital Management Inc. increased its holdings in shares of Berry Global Group by 1.5% in the fourth quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock worth $737,000 after purchasing an additional 181 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Berry Global Group by 0.3% in the third quarter. EverSource Wealth Advisors LLC now owns 78,197 shares of the industrial products company’s stock worth $4,841,000 after purchasing an additional 222 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Berry Global Group by 69.6% in the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 224 shares during the last quarter. 98.25% of the stock is owned by institutional investors.

Berry Global Group Stock Up 5.5 %

Shares of NYSE:BERY opened at $59.01 on Monday. Berry Global Group, Inc. has a 1 year low of $53.83 and a 1 year high of $69.93. The business has a 50 day simple moving average of $66.05 and a two-hundred day simple moving average of $62.99. The firm has a market capitalization of $6.84 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.78 and a beta of 1.29. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95.

Berry Global Group (NYSE:BERYGet Free Report) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm earned $1.30 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, equities analysts predict that Berry Global Group, Inc. will post 7.52 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.275 dividend. The ex-dividend date is Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.86%. Berry Global Group’s payout ratio is 23.66%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BERY. Mizuho reduced their target price on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday. Truist Financial lifted their target price on Berry Global Group from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Royal Bank of Canada reduced their target price on Berry Global Group from $78.00 to $74.00 and set an “outperform” rating on the stock in a report on Tuesday, November 21st. Jefferies Financial Group reduced their target price on Berry Global Group from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, October 18th. Finally, UBS Group boosted their price objective on Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Moderate Buy” and an average price target of $77.13.

Get Our Latest Analysis on BERY

Insider Activity at Berry Global Group

In related news, Director Carl J. Rickertsen sold 7,849 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $64.81, for a total value of $508,693.69. Following the completion of the sale, the director now owns 2,758 shares in the company, valued at $178,745.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Berry Global Group news, Director Carl J. Rickertsen sold 7,849 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $64.81, for a total transaction of $508,693.69. Following the completion of the sale, the director now owns 2,758 shares in the company, valued at $178,745.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter T. Thomas bought 2,000 shares of the stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $56.00 per share, with a total value of $112,000.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $112,000. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 103,383 shares of company stock worth $6,763,752. Company insiders own 4.00% of the company’s stock.

About Berry Global Group

(Free Report)

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.

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Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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