Berry Global Group, Inc. (NYSE:BERY) Stock Holdings Lessened by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Berry Global Group, Inc. (NYSE:BERY) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 221,544 shares of the industrial products company’s stock after selling 6,860 shares during the quarter. Federated Hermes Inc. owned about 0.19% of Berry Global Group worth $14,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Ancora Advisors LLC lifted its position in Berry Global Group by 5.7% in the 3rd quarter. Ancora Advisors LLC now owns 1,238,927 shares of the industrial products company’s stock valued at $76,702,000 after purchasing an additional 66,787 shares during the last quarter. AQR Capital Management LLC increased its stake in Berry Global Group by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock valued at $62,230,000 after buying an additional 22,137 shares during the period. Mariner LLC increased its stake in Berry Global Group by 7.8% during the 3rd quarter. Mariner LLC now owns 949,817 shares of the industrial products company’s stock valued at $58,803,000 after buying an additional 69,062 shares during the period. William Blair Investment Management LLC increased its stake in Berry Global Group by 10.9% during the 3rd quarter. William Blair Investment Management LLC now owns 764,503 shares of the industrial products company’s stock valued at $47,330,000 after buying an additional 74,871 shares during the period. Finally, Invesco Ltd. increased its stake in Berry Global Group by 60.1% during the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after buying an additional 233,368 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Performance

BERY stock opened at $56.82 on Tuesday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The stock has a market cap of $6.59 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.77 and a beta of 1.25. The firm has a 50 day simple moving average of $58.87 and a 200 day simple moving average of $61.45. Berry Global Group, Inc. has a 52 week low of $53.83 and a 52 week high of $69.93.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results 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 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 business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 earnings per share. Research analysts anticipate that Berry Global Group, Inc. will post 7.38 earnings per share for the current fiscal 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 issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio is currently 23.66%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Peter T. Thomas acquired 2,000 shares of Berry Global Group stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $56.00 per share, for a total transaction 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 Securities & Exchange Commission, which is available at this link. Also, Director Jonathan F. Foster acquired 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $335,030.72. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BERY. Wolfe Research began coverage on shares of Berry Global Group in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Truist Financial reaffirmed a “hold” rating and issued a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, Mizuho lowered their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.00.

About Berry Global Group

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.