Skylands Capital LLC Lowers Holdings in Berry Global Group, Inc. (NYSE:BERY)

Skylands Capital LLC lessened its holdings in Berry Global Group, Inc. (NYSE:BERY) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,650 shares of the industrial products company’s stock after selling 300 shares during the period. Skylands Capital LLC’s holdings in Berry Global Group were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Louisiana State Employees Retirement System purchased a new stake in shares of Berry Global Group during the fourth quarter worth $2,237,000. Teachers Retirement System of The State of Kentucky raised its position in Berry Global Group by 96.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock valued at $2,488,000 after purchasing an additional 19,674 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Berry Global Group by 2.3% in 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. Canada Pension Plan Investment Board grew its position in shares of Berry Global Group by 67.0% during the third quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock worth $6,049,000 after buying an additional 39,200 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Berry Global Group by 60.1% during the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after buying an additional 233,368 shares during the period. 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 Berry Global Group stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $58.49 per share, with a total value of $58,490.00. Following the acquisition, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Berry Global Group news, Director Jonathan F. Foster acquired 1,000 shares of Berry Global Group stock in a transaction on 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 purchase, the director now owns 5,728 shares in the company, valued at $335,030.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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, for a total transaction of $112,000.00. Following the completion of the transaction, 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.

Wall Street Analyst Weigh In

BERY has been the topic of several recent analyst reports. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Wolfe Research started coverage on Berry Global Group in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Truist Financial reaffirmed 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. Barclays dropped their price target on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and a consensus target price of $72.00.

Berry Global Group Trading Up 0.7 %

Shares of NYSE:BERY opened at $57.45 on Tuesday. Berry Global Group, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $69.93. The company has a market cap of $6.66 billion, a PE ratio of 12.35, a P/E/G ratio of 0.77 and a beta of 1.25. The company’s 50-day moving average price is $58.71 and its 200 day moving average price is $61.46. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERY) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Berry Global Group, Inc. will post 7.38 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio is 23.66%.

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.