Swiss National Bank Has $15.78 Million Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Posted by Defense World Staff on Aug 23rd, 2023

Swiss National Bank lowered its stake in Berry Global Group, Inc. (NYSE:BERY – Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,918 shares of the industrial products company’s stock after selling 34,100 shares during the period. Swiss National Bank owned 0.22% of Berry Global Group worth $15,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Thistle LLC acquired a new stake in shares of Berry Global Group during the 1st quarter valued at $387,000. Simplicity Solutions LLC grew its holdings in shares of Berry Global Group by 12.6% during the first quarter. Simplicity Solutions LLC now owns 12,335 shares of the industrial products company’s stock worth $727,000 after purchasing an additional 1,385 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Berry Global Group by 3.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 20,146 shares of the industrial products company’s stock valued at $1,217,000 after buying an additional 757 shares during the period. MQS Management LLC bought a new position in Berry Global Group in the 1st quarter valued at approximately $333,000. Finally, Letko Brosseau & Associates Inc. boosted its position in Berry Global Group by 19.1% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 963,565 shares of the industrial products company’s stock worth $58,228,000 after buying an additional 154,225 shares during the period. Institutional investors own 92.95% of the company’s stock.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, insider Jason K. Greene sold 520 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $68.01, for a total value of $35,365.20. Following the completion of the sale, the insider now owns 250 shares of the company’s stock, valued at $17,002.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jason K. Greene sold 520 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $68.01, for a total value of $35,365.20. Following the transaction, the insider now owns 250 shares in the company, valued at $17,002.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Edward Hill sold 28,369 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $66.57, for a total value of $1,888,524.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,122 shares of company stock valued at $6,368,915. Company insiders own 3.30% of the company’s stock.

Berry Global Group Trading Down 0.0 %

NYSE BERY opened at $62.60 on Wednesday. The business has a 50 day simple moving average of $64.49 and a 200 day simple moving average of $61.04. Berry Global Group, Inc. has a one year low of $44.52 and a one year high of $68.01. The stock has a market capitalization of $7.39 billion, a P/E ratio of 11.81, a P/E/G ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.87 and a quick ratio of 1.12.

Berry Global Group (NYSE:BERY – Get Free Report) last released its earnings results on Wednesday, August 9th. The industrial products company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.07). Berry Global Group had a return on equity of 27.67% and a net margin of 5.05%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business earned $2.03 EPS. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. Research analysts expect that Berry Global Group, Inc. will post 7.29 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. Berry Global Group’s dividend payout ratio (DPR) is presently 18.87%.

Analyst Ratings Changes

Several equities analysts have issued reports on BERY shares. Royal Bank of Canada upped their price target on shares of Berry Global Group from $73.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Jefferies Financial Group boosted their price objective on shares of Berry Global Group from $76.00 to $87.00 in a research note on Tuesday, July 18th. Truist Financial raised shares of Berry Global Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $69.00 to $73.00 in a research note on Wednesday, May 24th. Bank of America boosted their price objective on shares of Berry Global Group from $70.00 to $75.00 in a research note on Monday, July 10th. Finally, Citigroup boosted their price objective on shares of Berry Global Group from $79.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Berry Global Group currently has an average rating of “Moderate Buy” and a consensus target price of $73.54.

View Our Latest Analysis on Berry Global Group

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. 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.

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

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