Berry Global Group, Inc. (NYSE:BERY) Stake Trimmed by American International Group Inc.

American International Group Inc. cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 3.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 153,418 shares of the industrial products company’s stock after selling 6,117 shares during the period. American International Group Inc.’s holdings in Berry Global Group were worth $9,279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares during the period. LSV Asset Management grew its position in Berry Global Group by 4.1% during the 4th quarter. LSV Asset Management now owns 4,330,213 shares of the industrial products company’s stock worth $291,813,000 after purchasing an additional 170,317 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Berry Global Group by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,282,248 shares of the industrial products company’s stock worth $221,191,000 after purchasing an additional 81,496 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Berry Global Group by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,389 shares of the industrial products company’s stock valued at $149,099,000 after purchasing an additional 38,414 shares during the period. Finally, Lyrical Asset Management LP lifted its holdings in shares of Berry Global Group by 1.3% in the fourth quarter. Lyrical Asset Management LP now owns 1,918,414 shares of the industrial products company’s stock valued at $129,282,000 after purchasing an additional 24,563 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Berry Global Group

In related news, Director Peter T. Thomas acquired 1,000 shares of Berry Global Group stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the completion of the transaction, the director now directly owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Mark W. Miles sold 1,118 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the transaction, the chief financial officer now owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter T. Thomas purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the completion of the acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The disclosure for this purchase can be found here. 4.00% of the stock is owned by company insiders.

Berry Global Group Stock Performance

BERY stock traded up $0.77 during trading hours on Thursday, reaching $64.11. The stock had a trading volume of 597,262 shares, compared to its average volume of 1,088,248. The stock has a 50-day simple moving average of $60.38 and a 200 day simple moving average of $60.45. 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 market capitalization of $7.33 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01.

Berry Global Group (NYSE:BERY) last issued its earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.05. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. Berry Global Group’s revenue was down 6.4% on a year-over-year basis. During the same period last year, the business posted $1.96 EPS. Analysts predict that Berry Global Group, Inc. will post 7.44 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Monday, June 3rd. Berry Global Group’s payout ratio is presently 26.13%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Robert W. Baird restated a “neutral” rating and issued a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. UBS Group decreased their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Truist Financial reissued a “hold” rating and set a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Finally, Bank of America upped their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and an average price target of $71.40.

Berry Global Group Profile

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.