South Dakota Investment Council Acquires New Shares in Berry Global Group, Inc. (NYSE:BERY)

South Dakota Investment Council acquired a new stake in Berry Global Group, Inc. (NYSE:BERY) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 37,222 shares of the industrial products company’s stock, valued at approximately $2,508,000.

Other hedge funds have also bought and sold shares of the company. Sasco Capital Inc. CT bought a new position in Berry Global Group in the 3rd quarter valued at $17,518,000. Invesco Ltd. boosted its holdings in Berry Global Group by 60.1% in the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after purchasing an additional 233,368 shares during the period. Glenmede Trust Co. NA boosted its holdings in Berry Global Group by 3,593.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 128,039 shares of the industrial products company’s stock valued at $7,927,000 after purchasing an additional 124,572 shares during the period. UBS Group AG boosted its holdings in Berry Global Group by 95.1% in the 3rd quarter. UBS Group AG now owns 250,526 shares of the industrial products company’s stock valued at $15,510,000 after purchasing an additional 122,096 shares during the period. Finally, Harbour Trust & Investment Management Co bought a new position in Berry Global Group in the 4th quarter valued at $7,205,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the purchase, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Berry Global Group news, Director Peter T. Thomas bought 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $112,000. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan F. Foster bought 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $58.49 per share, with a total value of $58,490.00. Following the purchase, the director now directly owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BERY. Robert W. Baird reissued a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 price target (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Truist Financial reissued 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. UBS Group lifted their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, Mizuho dropped their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $56.91 on Thursday. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The company has a 50-day moving average price of $58.83 and a 200-day moving average price of $61.45. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. Berry Global Group, Inc. has a 12 month low of $53.83 and a 12 month high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. As a group, equities analysts anticipate that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is 23.66%.

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.