LSV Asset Management Cuts Holdings in Berry Global Group, Inc. (NYSE:BERY)

LSV Asset Management reduced its position in Berry Global Group, Inc. (NYSE:BERY) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,307,198 shares of the industrial products company’s stock after selling 23,015 shares during the quarter. LSV Asset Management owned about 3.72% of Berry Global Group worth $260,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Berry Global Group in the 4th quarter valued at $31,000. Blue Trust Inc. increased its holdings in Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 436 shares in the last quarter. Quarry LP increased its holdings in Berry Global Group by 433.1% in the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 615 shares in the last quarter. CWM LLC increased its holdings in Berry Global Group by 200.0% in the 4th quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 1,050 shares in the last quarter. Finally, First Hawaiian Bank increased its holdings in Berry Global Group by 11.2% in the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 376 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BERY has been the subject of several recent research reports. Truist Financial reiterated a “hold” rating and issued 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 set a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird restated a “neutral” rating and set a $65.00 target price (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Finally, Bank of America raised their target price on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.60.

Insiders Place Their Bets

In other news, Director Peter T. Thomas acquired 1,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the transaction, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Peter T. Thomas bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $59.50 per share, with a total value of $59,500.00. Following the purchase, the director now directly owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of Berry Global Group stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares of the company’s stock, 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 NYSE BERY traded up $1.34 during mid-day trading on Friday, reaching $62.53. 1,017,434 shares of the company traded hands, compared to its average volume of 1,114,206. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The firm has a market cap of $7.15 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16. Berry Global Group, Inc. has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The stock has a fifty day simple moving average of $59.79 and a 200-day simple moving average of $60.74.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.05. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. Equities research analysts anticipate that Berry Global Group, Inc. will post 7.43 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.10 annualized dividend and a yield of 1.76%. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

About Berry Global Group

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.