Paloma Partners Management Co Acquires New Holdings in Berry Global Group, Inc. (NYSE:BERY)

Paloma Partners Management Co acquired a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,703 shares of the industrial products company’s stock, valued at approximately $224,000.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Berry Global Group during the fourth quarter valued at about $31,000. LRI Investments LLC purchased a new stake in Berry Global Group in the first quarter valued at about $38,000. Blue Trust Inc. raised its stake in Berry Global Group by 203.7% in the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after buying an additional 436 shares during the last quarter. Quarry LP raised its stake in Berry Global Group by 433.1% in the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after buying an additional 615 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Berry Global Group in the first quarter valued at about $100,000. Institutional investors own 95.36% of the company’s stock.

Insider Transactions at Berry Global Group

In other news, CFO Mark W. Miles sold 1,118 shares of Berry Global Group 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 sale, the chief financial officer now directly owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Peter T. Thomas acquired 1,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Miles sold 1,118 shares of Berry Global Group 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 in the company, 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group decreased their price target 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. Bank of America increased their price target 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. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.40.

Berry Global Group Price Performance

BERY traded down $0.02 during trading on Tuesday, hitting $65.00. The company’s stock had a trading volume of 100,552 shares, compared to its average volume of 1,078,688. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93. The business’s fifty day simple moving average is $60.62 and its 200 day simple moving average is $60.37. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.31 and a beta of 1.17.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.90 by $0.05. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned $1.96 earnings per share. Berry Global Group’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Berry Global Group, Inc. will post 7.44 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s dividend payout ratio is presently 26.13%.

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.