Utah Retirement Systems Sells 900 Shares of Berry Global Group, Inc. (NYSE:BERY)

Posted by Defense World Staff on Mar 13th, 2023

Utah Retirement Systems reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,369 shares of the industrial products company’s stock after selling 900 shares during the period. Utah Retirement Systems’ holdings in Berry Global Group were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Owl Creek Asset Management L.P. bought a new position in shares of Berry Global Group in the third quarter worth about $11,936,000. Putnam Investments LLC bought a new position in shares of Berry Global Group in the third quarter worth about $9,437,000. Pearl River Capital LLC increased its stake in shares of Berry Global Group by 340.4% in the third quarter. Pearl River Capital LLC now owns 17,088 shares of the industrial products company’s stock worth $795,000 after purchasing an additional 13,208 shares during the period. Quantamental Technologies LLC bought a new position in shares of Berry Global Group in the third quarter worth about $423,000. Finally, Marshall Wace LLP increased its stake in shares of Berry Global Group by 334.1% in the third quarter. Marshall Wace LLP now owns 30,210 shares of the industrial products company’s stock worth $1,406,000 after purchasing an additional 23,250 shares during the period. 94.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, CFO Mark W. Miles sold 37,942 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $61.27, for a total value of $2,324,706.34. Following the completion of the transaction, the chief financial officer now directly owns 47,058 shares of the company’s stock, valued at $2,883,243.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.30% of the company’s stock.

Berry Global Group Trading Down 2.8 %

Shares of NYSE BERY opened at $57.62 on Monday. Berry Global Group, Inc. has a fifty-two week low of $44.52 and a fifty-two week high of $66.21. The firm has a market capitalization of $7.00 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.78 and a beta of 1.17. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.98 and a quick ratio of 1.14. The company’s 50 day simple moving average is $61.46 and its 200 day simple moving average is $56.13.

Berry Global Group (NYSE:BERY – Get Rating) last issued its earnings results on Thursday, February 2nd. The industrial products company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. Berry Global Group had a net margin of 5.37% and a return on equity of 30.05%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, analysts predict that Berry Global Group, Inc. will post 7.43 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.00 annualized dividend and a yield of 1.74%. Berry Global Group’s dividend payout ratio (DPR) is presently 17.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BERY shares. Credit Suisse Group lowered their price target on Berry Global Group from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 6th. Royal Bank of Canada boosted their price target on Berry Global Group from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Berry Global Group from $70.00 to $75.00 in a report on Friday, February 3rd. Finally, Barclays lifted their price objective on Berry Global Group from $60.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, February 6th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.75.

Berry Global Group Profile

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Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.