Simplicity Solutions LLC Cuts Position in Berry Global Group, Inc. (NYSE:BERY)

Simplicity Solutions LLC lessened its stake in Berry Global Group, Inc. (NYSE:BERY) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,851 shares of the industrial products company’s stock after selling 329 shares during the quarter. Simplicity Solutions LLC’s holdings in Berry Global Group were worth $664,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BERY. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Berry Global Group by 335.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,736 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 9,812 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Berry Global Group by 71.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,152 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 4,640 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Berry Global Group in the 1st quarter valued at about $329,000. MetLife Investment Management LLC purchased a new position in shares of Berry Global Group in the 1st quarter valued at about $156,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Berry Global Group by 4.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,248 shares of the industrial products company’s stock valued at $509,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

NYSE:BERY opened at $55.92 on Thursday. The firm has a 50 day simple moving average of $58.94 and a 200-day simple moving average of $61.49. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The firm has a market cap of $6.48 billion, a PE ratio of 12.03, a P/E/G ratio of 0.76 and a beta of 1.25. Berry Global Group, Inc. has a 1-year low of $53.83 and a 1-year high of $69.93.

Berry Global Group (NYSE:BERY) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Berry Global Group’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities analysts expect that Berry Global Group, Inc. will post 7.42 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.275 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.97%. Berry Global Group’s payout ratio is 23.66%.

Insider Activity at Berry Global Group

In related news, Director Jonathan F. Foster bought 1,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was purchased at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the acquisition, the director now owns 5,728 shares in the company, valued at $335,030.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Berry Global Group news, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $112,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan F. Foster acquired 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $58.49 per share, with a total value of $58,490.00. Following the completion of the purchase, the director now owns 5,728 shares of the company’s stock, valued at $335,030.72. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.

Analyst Ratings Changes

BERY has been the subject of a number of research reports. UBS Group lifted their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Mizuho cut their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. TheStreet cut shares of Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Finally, Barclays cut their target price on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.00.

About Berry Global Group

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.