Pinebridge Investments L.P. Has $1.02 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Pinebridge Investments L.P. lowered its holdings in Berry Global Group, Inc. (NYSE:BERYFree Report) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,113 shares of the industrial products company’s stock after selling 1,631 shares during the period. Pinebridge Investments L.P.’s holdings in Berry Global Group were worth $1,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BERY. LSV Asset Management boosted its position in Berry Global Group by 4.1% during the 4th quarter. LSV Asset Management now owns 4,330,213 shares of the industrial products company’s stock worth $291,813,000 after acquiring an additional 170,317 shares during the period. Massachusetts Financial Services Co. MA grew its position in Berry Global Group by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,282,248 shares of the industrial products company’s stock valued at $221,191,000 after purchasing an additional 81,496 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Berry Global Group by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,389 shares of the industrial products company’s stock valued at $149,099,000 after buying an additional 38,414 shares during the period. Lyrical Asset Management LP lifted its position in Berry Global Group by 1.3% in the 4th quarter. Lyrical Asset Management LP now owns 1,918,414 shares of the industrial products company’s stock worth $129,282,000 after buying an additional 24,563 shares in the last quarter. Finally, Ancora Advisors LLC boosted its stake in shares of Berry Global Group by 5.7% during the 3rd quarter. Ancora Advisors LLC now owns 1,238,927 shares of the industrial products company’s stock valued at $76,702,000 after buying an additional 66,787 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analysts Set New Price Targets

BERY has been the subject of several recent research reports. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Truist Financial reiterated a “hold” rating and set a $68.00 price target (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Robert W. Baird reiterated a “neutral” rating and issued a $65.00 target price (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Finally, TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Read Our Latest Report on BERY

Insider Transactions at Berry Global Group

In other news, CFO Mark W. Miles sold 1,118 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the sale, the chief financial officer now owns 119,384 shares in the company, valued at $7,197,661.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Peter T. Thomas purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $59.50 per share, with a total value of $59,500.00. Following the acquisition, the director now directly owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark W. Miles sold 1,118 shares of Berry Global Group stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at approximately $7,197,661.36. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $59.51 on Friday. Berry Global Group, Inc. has a 1-year low of $53.92 and a 1-year high of $69.93. The firm has a fifty day simple moving average of $58.93 and a 200-day simple moving average of $61.83. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.27 and a beta of 1.19.

Berry Global Group (NYSE:BERYGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.05. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 earnings per share. On average, sell-side analysts expect that Berry Global Group, Inc. will post 7.43 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, June 3rd. Berry Global Group’s dividend payout ratio is currently 26.13%.

Berry Global Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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