Meritage Portfolio Management Purchases 485 Shares of Berry Global Group, Inc. (NYSE:BERY)

Meritage Portfolio Management lifted its holdings in Berry Global Group, Inc. (NYSE:BERY) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,153 shares of the industrial products company’s stock after purchasing an additional 485 shares during the period. Meritage Portfolio Management’s holdings in Berry Global Group were worth $617,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Berry Global Group during the fourth quarter valued at about $31,000. First Horizon Advisors Inc. increased its position in shares of 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 valued at $34,000 after purchasing an additional 224 shares during the period. Blue Trust Inc. lifted its position 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 worth $40,000 after purchasing an additional 436 shares during the period. CWM LLC boosted its stake in Berry Global Group by 200.0% during the fourth quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock worth $106,000 after buying an additional 1,050 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Berry Global Group in the 3rd quarter valued at $101,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Up 1.1 %

Shares of Berry Global Group stock traded up $0.63 during midday trading on Friday, reaching $57.18. The company had a trading volume of 179,801 shares, compared to its average volume of 1,129,583. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. Berry Global Group, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $69.93. The stock has a fifty day moving average price of $58.76 and a 200 day moving average price of $61.38. The firm has a market cap of $6.63 billion, a PE ratio of 12.26, a P/E/G ratio of 0.77 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data 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 business had revenue of $2.85 billion during 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 firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, equities analysts anticipate that Berry Global Group, Inc. will post 7.38 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group’s payout ratio is 23.66%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Berry Global Group in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Truist Financial restated a “hold” rating and set a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Barclays dropped their price objective on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and a consensus target price of $72.00.

Insider Activity at Berry Global Group

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

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.