Thompson Investment Management Inc. Acquires 46,379 Shares of Berry Global Group, Inc. (NYSE:BERY)

Thompson Investment Management Inc. boosted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 74.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,047 shares of the industrial products company’s stock after buying an additional 46,379 shares during the quarter. Thompson Investment Management Inc. owned approximately 0.09% of Berry Global Group worth $6,595,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BERY. HighTower Advisors LLC grew its position in Berry Global Group by 53.4% during the third quarter. HighTower Advisors LLC now owns 6,098 shares of the industrial products company’s stock valued at $376,000 after buying an additional 2,123 shares during the period. QRG Capital Management Inc. bought a new position in shares of Berry Global Group in the third quarter worth approximately $406,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Berry Global Group in the third quarter worth approximately $226,000. Envestnet Asset Management Inc. boosted its position in shares of Berry Global Group by 40.8% in the third quarter. Envestnet Asset Management Inc. now owns 283,443 shares of the industrial products company’s stock worth $17,548,000 after purchasing an additional 82,144 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Berry Global Group by 60.1% in the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after purchasing an additional 233,368 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. 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. Robert W. Baird reissued a “neutral” rating and issued a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Wolfe Research assumed coverage on shares of Berry Global Group in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Bank of America boosted their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Berry Global Group Trading Down 0.5 %

Shares of BERY traded down $0.33 during midday trading on Wednesday, hitting $60.13. The stock had a trading volume of 230,747 shares, compared to its average volume of 1,119,932. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The firm has a market cap of $6.88 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The stock’s 50 day moving average is $59.27 and its 200 day moving average is $61.37.

Berry Global Group (NYSE:BERY) last announced its 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. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts forecast that Berry Global Group, Inc. will post 7.43 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s payout ratio is presently 26.13%.

Insider Transactions at Berry Global Group

In related news, Director Peter T. Thomas purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 value of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at approximately $7,197,661.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter T. Thomas purchased 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the acquisition, the director now directly owns 4,407 shares in the company, valued at approximately $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.