California Public Employees Retirement System lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY – Free Report) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 235,348 shares of the industrial products company’s stock after selling 13,764 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Berry Global Group worth $15,142,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. HRT Financial LP raised its stake in Berry Global Group by 89.8% during the first quarter. HRT Financial LP now owns 104,403 shares of the industrial products company’s stock worth $6,149,000 after purchasing an additional 49,392 shares during the period. Atria Investments Inc raised its stake in shares of Berry Global Group by 9.1% in the 1st quarter. Atria Investments Inc now owns 72,469 shares of the industrial products company’s stock valued at $4,268,000 after acquiring an additional 6,063 shares during the period. Linden Thomas Advisory Services LLC raised its stake in shares of Berry Global Group by 23.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 10,287 shares of the industrial products company’s stock valued at $662,000 after acquiring an additional 1,967 shares during the period. MQS Management LLC purchased a new position in shares of Berry Global Group in the 1st quarter valued at $333,000. Finally, Raymond James & Associates raised its stake in shares of Berry Global Group by 8.8% in the 2nd quarter. Raymond James & Associates now owns 193,152 shares of the industrial products company’s stock valued at $12,427,000 after acquiring an additional 15,602 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.
Insiders Place Their Bets
In related news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $54.57, for a total value of $763,980.00. Following the sale, the director now directly owns 27,258 shares in the company, valued at approximately $1,487,469.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Berry Global Group Trading Up 0.2 %
NYSE BERY opened at $63.73 on Monday. Berry Global Group, Inc. has a one year low of $53.83 and a one year high of $68.01. The company has a 50-day simple moving average of $58.94 and a 200-day simple moving average of $61.39. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.12 and a current ratio of 1.87. The firm has a market capitalization of $7.53 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.77 and a beta of 1.20.
Berry Global Group (NYSE:BERY – Get Free Report) last posted its quarterly earnings results on Thursday, November 16th. The industrial products company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.14 billion. Berry Global Group had a net margin of 5.05% and a return on equity of 27.67%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.19 EPS. On average, equities analysts forecast that Berry Global Group, Inc. will post 7.27 earnings per share for the current year.
Berry Global Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.275 dividend. The ex-dividend date is Thursday, November 30th. This is an increase from Berry Global Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.73%. Berry Global Group’s dividend payout ratio (DPR) is currently 18.87%.
Berry Global Group Profile
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.
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