Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in Berry Global Group, Inc. (NYSE:BERY) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,160 shares of the industrial products company’s stock after selling 1,900 shares during the period. Handelsbanken Fonder AB’s holdings in Berry Global Group were worth $1,696,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sasco Capital Inc. CT purchased a new stake in Berry Global Group during the third quarter worth about $17,518,000. Invesco Ltd. increased its position in shares of Berry Global Group by 60.1% in the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after purchasing an additional 233,368 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Berry Global Group by 3,593.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 128,039 shares of the industrial products company’s stock valued at $7,927,000 after buying an additional 124,572 shares in the last quarter. UBS Group AG boosted its holdings in shares of Berry Global Group by 95.1% in the 3rd quarter. UBS Group AG now owns 250,526 shares of the industrial products company’s stock valued at $15,510,000 after buying an additional 122,096 shares in the last quarter. Finally, Harbour Trust & Investment Management Co acquired a new position in shares of Berry Global Group in the 4th quarter valued at $7,205,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

Shares of BERY opened at $57.05 on Friday. The company has a 50-day simple moving average of $58.73 and a 200-day simple moving average of $61.39. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $6.61 billion, a PE ratio of 12.27, a P/E/G ratio of 0.77 and a beta of 1.25. Berry Global Group, Inc. has a 52-week low of $53.83 and a 52-week high of $69.93.

Berry Global Group (NYSE:BERY) last announced its quarterly 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). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. Equities research analysts predict that Berry Global Group, Inc. will post 7.38 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend yield of 1.93%. Berry Global Group’s dividend payout ratio is presently 23.66%.

Insider Buying and Selling at Berry Global Group

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

Wall Street Analysts Forecast Growth

BERY has been the subject of several research analyst reports. UBS Group upped their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 price target (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Wolfe Research started coverage on shares of Berry Global Group in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Barclays cut their price objective 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. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group 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.