Strs Ohio Sells 10,501 Shares of Berry Global Group, Inc. (NYSE:BERY)

Strs Ohio lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 13.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,814 shares of the industrial products company’s stock after selling 10,501 shares during the period. Strs Ohio owned about 0.06% of Berry Global Group worth $4,704,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP raised its holdings in Berry Global Group by 150.9% during the first quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 323 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Berry Global Group by 69.6% during the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 224 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Berry Global Group during the first quarter worth about $38,000. Blue Trust Inc. raised its holdings in Berry Global Group by 203.7% during the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 436 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Berry Global Group by 101.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,095 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 551 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Berry Global Group stock opened at $56.34 on Friday. Berry Global Group, Inc. has a 12 month low of $53.83 and a 12 month high of $69.93. The stock’s 50 day moving average is $58.95 and its 200-day moving average is $61.46. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.76 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS. Equities research analysts expect that Berry Global Group, Inc. will post 7.41 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group’s dividend payout ratio is currently 23.66%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group boosted their price target on Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Mizuho lowered their price target on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Robert W. Baird reissued a “neutral” rating and set a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research report on Tuesday. Finally, StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.