Simplicity Solutions LLC grew its stake in shares of Berry Global Group, Inc. (NYSE:BERY – Free Report) by 12.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,335 shares of the industrial products company’s stock after buying an additional 1,385 shares during the period. Simplicity Solutions LLC’s holdings in Berry Global Group were worth $727,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Berry Global Group during the 4th quarter worth $67,056,000. Marshall Wace LLP boosted its position in Berry Global Group by 1,301.8% during the 4th quarter. Marshall Wace LLP now owns 423,479 shares of the industrial products company’s stock worth $25,591,000 after purchasing an additional 393,269 shares during the period. 1832 Asset Management L.P. purchased a new position in Berry Global Group in the 1st quarter valued at about $19,082,000. Morgan Stanley boosted its position in Berry Global Group by 46.8% in the 4th quarter. Morgan Stanley now owns 1,013,267 shares of the industrial products company’s stock valued at $61,232,000 after buying an additional 322,985 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Berry Global Group in the 4th quarter valued at about $14,478,000. 92.95% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Berry Global Group in a research report on Thursday, May 18th. They issued a “buy” rating for the company. UBS Group decreased their price objective on shares of Berry Global Group from $75.00 to $73.00 in a research report on Monday, May 8th. Jefferies Financial Group upped their price objective on shares of Berry Global Group from $76.00 to $87.00 in a research report on Tuesday. Truist Financial upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $73.00 in a research note on Wednesday, May 24th. Finally, Bank of America upped their target price on shares of Berry Global Group from $70.00 to $75.00 in a research note on Monday, July 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.23.
Berry Global Group Price Performance
Berry Global Group (NYSE:BERY – Get Free Report) last announced its quarterly earnings results on Thursday, May 4th. The industrial products company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.85 by $0.11. Berry Global Group had a net margin of 5.34% and a return on equity of 29.37%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business earned $1.93 earnings per share. Berry Global Group’s revenue was down 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Berry Global Group, Inc. will post 7.4 earnings per share for the current year.
Berry Global Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.25 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. Berry Global Group’s payout ratio is currently 17.54%.
Insider Buying and Selling at Berry Global Group
In related news, CFO Mark W. Miles sold 31,602 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $61.34, for a total transaction of $1,938,466.68. Following the sale, the chief financial officer now owns 65,456 shares of the company’s stock, valued at $4,015,071.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Berry Global Group news, President Michael Edward Hill sold 1,090 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $63.51, for a total transaction of $69,225.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Miles sold 31,602 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $61.34, for a total value of $1,938,466.68. Following the transaction, the chief financial officer now directly owns 65,456 shares of the company’s stock, valued at $4,015,071.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,602 shares of company stock worth $5,735,229. 3.30% of the stock is owned by company insiders.
Berry Global Group Company Profile
Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.
Featured Stories
- Five stocks we like better than Berry Global Group
- J.B. Hunt Transportation Services Could Hit New Highs By Year End
- Profits Decline At Goldman Sachs, Time To Pick Up Cheap Shares?
- The Squeeze Is On For Carvana Stock Prices
- Acumen Soars on Alzheimer’s Study…Street Sees It Doubling
- Live Nation Shares Rock Out Ahead of Q2 Earnings
Want to see what other hedge funds are holding BERY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Berry Global Group, Inc. (NYSE:BERY – Free Report).
Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.
