New York State Common Retirement Fund Sells 6,441 Shares of Berry Global Group, Inc. (NYSE:BERY)

New York State Common Retirement Fund trimmed its holdings in Berry Global Group, Inc. (NYSE:BERY) by 2.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 263,282 shares of the industrial products company’s stock after selling 6,441 shares during the quarter. New York State Common Retirement Fund’s holdings in Berry Global Group were worth $17,743,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Berry Global Group during the third quarter valued at about $101,000. Handelsbanken Fonder AB lifted its position in shares of Berry Global Group by 50.7% during the third quarter. Handelsbanken Fonder AB now owns 27,060 shares of the industrial products company’s stock valued at $1,675,000 after purchasing an additional 9,100 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Berry Global Group by 12.2% during the third quarter. Linden Thomas Advisory Services LLC now owns 11,547 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 1,260 shares in the last quarter. Tectonic Advisors LLC lifted its position in shares of Berry Global Group by 3.3% during the third quarter. Tectonic Advisors LLC now owns 137,701 shares of the industrial products company’s stock valued at $8,525,000 after purchasing an additional 4,437 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Berry Global Group by 4.1% during the third quarter. Raymond James & Associates now owns 201,161 shares of the industrial products company’s stock valued at $12,454,000 after purchasing an additional 8,009 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

Insider Activity at Berry Global Group

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BERY shares. UBS Group raised their price target on shares of Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Wolfe Research assumed coverage on shares of Berry Global Group in a report on Friday, March 1st. They set a “peer perform” rating for the company. TheStreet downgraded shares of Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Finally, Truist Financial restated a “hold” rating and set a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and an average price target of $72.00.

Berry Global Group Price Performance

BERY opened at $57.05 on Monday. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.77 and a beta of 1.25. 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 firm has a 50-day moving average price of $58.73 and a 200-day moving average price of $61.44. Berry Global Group, Inc. has a twelve month low of $53.83 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). The firm had revenue of $2.85 billion for 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%. Berry Global Group’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Equities analysts expect that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.10 annualized dividend and a yield of 1.93%. Berry Global Group’s dividend payout ratio is currently 23.66%.

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.