Berry Global Group, Inc. (NYSE:BERY) Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC raised its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,231 shares of the industrial products company’s stock after purchasing an additional 1,341 shares during the quarter. Tectonic Advisors LLC’s holdings in Berry Global Group were worth $5,182,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. FORA Capital LLC acquired a new stake in Berry Global Group during the 1st quarter valued at approximately $1,492,000. Sei Investments Co. lifted its holdings in Berry Global Group by 8.3% during the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after buying an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after buying an additional 13,398 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after buying an additional 9,483 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Berry Global Group during the 1st quarter worth approximately $691,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Activity

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at approximately $2,119,889.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on BERY shares. Truist Financial increased their target price on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley started coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. UBS Group reduced their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $71.22.

Berry Global Group Stock Up 0.5 %

Shares of Berry Global Group stock opened at $68.50 on Friday. The business’s fifty day moving average price is $67.46 and its two-hundred day moving average price is $62.80. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The company has a market capitalization of $7.84 billion, a P/E ratio of 16.27, a PEG ratio of 1.10 and a beta of 1.15. Berry Global Group, Inc. has a 1-year low of $53.92 and a 1-year high of $70.86.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.16. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. As a group, research analysts forecast that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s payout ratio is currently 26.13%.

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.