Wolverine Asset Management LLC Makes New $1.52 Million Investment in Berry Global Group, Inc. (NYSE:BERY)

Wolverine Asset Management LLC purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, Holdings Channel.com reports. The fund purchased 22,500 shares of the industrial products company’s stock, valued at approximately $1,516,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Berry Global Group in the fourth quarter worth $31,000. Linden Thomas Advisory Services LLC increased its holdings in Berry Global Group by 18.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,717 shares of the industrial products company’s stock valued at $924,000 after purchasing an additional 2,170 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Berry Global Group by 78.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 30,024 shares of the industrial products company’s stock valued at $2,023,000 after buying an additional 13,228 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Berry Global Group by 20.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 108,062 shares of the industrial products company’s stock valued at $7,282,000 after acquiring an additional 18,049 shares in the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $769,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Transactions at Berry Global Group

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

Berry Global Group Trading Up 1.0 %

NYSE:BERY opened at $56.91 on Thursday. Berry Global Group, Inc. has a 12-month low of $53.83 and a 12-month high of $69.93. The firm has a market capitalization of $6.60 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.76 and a beta of 1.25. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The business has a 50 day simple moving average of $58.83 and a 200 day simple moving average of $61.45.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. Equities research analysts predict that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Berry Global Group Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BERY shares. Truist Financial reaffirmed a “hold” rating and set a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Robert W. Baird restated a “neutral” rating and set a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. UBS Group boosted their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Mizuho dropped their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Finally, StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and an average target price of $72.00.

Berry Global Group Company 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.