State Board of Administration of Florida Retirement System lifted its stake in Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,880 shares of the industrial products company’s stock after buying an additional 190 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Berry Global Group worth $8,272,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in shares of Berry Global Group by 9.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 19,389 shares of the industrial products company’s stock valued at $902,000 after buying an additional 1,615 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of Berry Global Group by 5.7% in the 4th quarter. Natixis Advisors L.P. now owns 62,857 shares of the industrial products company’s stock valued at $3,798,000 after buying an additional 3,374 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Berry Global Group by 68.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 18,076 shares of the industrial products company’s stock valued at $840,000 after buying an additional 7,329 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Berry Global Group by 74.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 37,580 shares of the industrial products company’s stock valued at $1,749,000 after buying an additional 15,997 shares during the last quarter. Finally, Khrom Capital Management LLC boosted its stake in Berry Global Group by 57.8% during the 3rd quarter. Khrom Capital Management LLC now owns 405,613 shares of the industrial products company’s stock worth $18,873,000 after purchasing an additional 148,536 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.
Berry Global Group Stock Up 1.2 %
BERY stock opened at $59.41 on Wednesday. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.15 and a current ratio of 1.95. Berry Global Group, Inc. has a one year low of $44.52 and a one year high of $66.21. The company has a fifty day moving average of $57.97 and a 200-day moving average of $58.09. The stock has a market capitalization of $7.08 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 0.78 and a beta of 1.16.
Berry Global Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, May 31st. Berry Global Group’s dividend payout ratio (DPR) is 17.54%.
Insider Activity at Berry Global Group
In related news, CFO Mark W. Miles sold 37,942 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $61.27, for a total value of $2,324,706.34. Following the completion of the sale, the chief financial officer now owns 47,058 shares in the company, valued at $2,883,243.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on BERY. Barclays increased their price target on shares of Berry Global Group from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, February 6th. Morgan Stanley increased their price target on shares of Berry Global Group from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. Robert W. Baird increased their price target on shares of Berry Global Group from $68.00 to $74.00 in a research note on Friday, February 3rd. Citigroup increased their price target on shares of Berry Global Group from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Sunday, February 5th. Finally, Royal Bank of Canada increased their price target on shares of Berry Global Group from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Berry Global Group presently has an average rating of “Moderate Buy” and an average target price of $71.67.
Berry Global Group Profile
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.
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