Shell Asset Management Co. Sells 306 Shares of Berry Global Group, Inc. (NYSE:BERY)

Shell Asset Management Co. cut its stake in Berry Global Group, Inc. (NYSE:BERY) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,677 shares of the industrial products company’s stock after selling 306 shares during the quarter. Shell Asset Management Co.’s holdings in Berry Global Group were worth $525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Berry Global Group during the fourth quarter worth $81,617,000. Vanguard Group Inc. raised its stake in shares of Berry Global Group by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after purchasing an additional 1,200,021 shares during the period. TD Asset Management Inc purchased a new position in shares of Berry Global Group in the 4th quarter worth about $23,803,000. Epoch Investment Partners Inc. grew its position in Berry Global Group by 39.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,033,568 shares of the industrial products company’s stock valued at $69,652,000 after buying an additional 290,781 shares during the period. Finally, Boone Capital Management LLC purchased a new stake in Berry Global Group during the fourth quarter worth about $15,598,000. Institutional investors own 95.36% of the company’s stock.

Insider Transactions at Berry Global Group

In related news, Director Peter T. Thomas purchased 1,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the transaction, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Berry Global Group news, Director Peter T. Thomas bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Trading Up 1.7 %

BERY traded up $1.05 on Friday, hitting $64.57. 127,726 shares of the company were exchanged, compared to its average volume of 1,086,172. 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, Inc. has a 12 month low of $53.92 and a 12 month high of $69.93. The firm has a fifty day simple moving average of $60.44 and a two-hundred day simple moving average of $60.48. The stock has a market capitalization of $7.39 billion, a PE ratio of 15.33, a price-to-earnings-growth ratio of 1.28 and a beta of 1.16.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data 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. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Sell-side analysts expect that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.10 annualized dividend and a yield of 1.70%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BERY. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. UBS Group reduced their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Robert W. Baird reissued a “neutral” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Finally, Bank of America upped 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 note on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.40.

Berry Global Group Company 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.