Berry Global Group, Inc. (NYSE:BERY) Stake Lessened by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd lessened its stake in Berry Global Group, Inc. (NYSE:BERYFree Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 722,017 shares of the industrial products company’s stock after selling 16,979 shares during the period. JARISLOWSKY FRASER Ltd owned about 0.62% of Berry Global Group worth $48,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Chesapeake Capital Corp IL bought a new stake in shares of Berry Global Group in the fourth quarter worth $899,000. EverSource Wealth Advisors LLC boosted its holdings in Berry Global Group by 4.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 81,728 shares of the industrial products company’s stock worth $5,508,000 after purchasing an additional 3,531 shares during the period. Franklin Resources Inc. boosted its holdings in Berry Global Group by 66.8% in the fourth quarter. Franklin Resources Inc. now owns 22,113 shares of the industrial products company’s stock worth $1,490,000 after purchasing an additional 8,855 shares during the period. Quest Partners LLC acquired a new position in Berry Global Group in the fourth quarter worth $1,657,000. Finally, Corient Private Wealth LLC boosted its holdings in Berry Global Group by 19.8% in the fourth quarter. Corient Private Wealth LLC now owns 12,041 shares of the industrial products company’s stock worth $811,000 after purchasing an additional 1,992 shares during the period. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

BERY stock traded up $0.81 during midday trading on Monday, hitting $59.42. 789,100 shares of the company traded hands, compared to its average volume of 1,110,343. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month 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 business has a 50 day simple moving average of $58.84 and a 200-day simple moving average of $61.89. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.24 and a beta of 1.24.

Berry Global Group (NYSE:BERYGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.05. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. Berry Global Group’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. As a group, equities research analysts predict that Berry Global Group, Inc. will post 7.42 earnings per share for the current year.

Berry Global Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

BERY has been the subject of a number of research reports. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Wolfe Research began coverage on shares of Berry Global Group in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Truist Financial reiterated a “hold” rating and issued a $68.00 price target (down from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Barclays dropped their price target on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Berry Global Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Check Out Our Latest Research Report on Berry Global Group

Insider Buying and Selling

In other news, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 4,407 shares in the company, valued at $262,216.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Mark W. Miles sold 1,118 shares of Berry Global Group 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 completion of 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 filing with the SEC, which is available through the SEC website. Also, Director Peter T. Thomas acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $59.50 per share, with a total value of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares of the company’s stock, valued at $262,216.50. The disclosure for this purchase can be found here. 4.00% of the stock is owned by company insiders.

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.

Further Reading

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

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