Cohen Capital Management Inc. Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Cohen Capital Management Inc. increased its position in Berry Global Group, Inc. (NYSE:BERY) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,605 shares of the industrial products company’s stock after purchasing an additional 182 shares during the quarter. Berry Global Group accounts for 1.0% of Cohen Capital Management Inc.’s portfolio, making the stock its 28th largest position. Cohen Capital Management Inc. owned 0.08% of Berry Global Group worth $5,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BERY. Comerica Bank purchased a new position in shares of Berry Global Group in the third quarter valued at $5,497,000. Hudson Bay Capital Management LP boosted its stake in Berry Global Group by 16.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $4,334,000 after acquiring an additional 10,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Berry Global Group by 96.0% during 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 acquiring an additional 19,674 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Berry Global Group by 10.6% during the 4th quarter. Sound Income Strategies LLC now owns 37,966 shares of the industrial products company’s stock valued at $2,559,000 after acquiring an additional 3,648 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Berry Global Group by 643.5% during the 4th quarter. SG Americas Securities LLC now owns 12,082 shares of the industrial products company’s stock valued at $814,000 after acquiring an additional 10,457 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Up 3.4 %

Shares of BERY stock traded up $2.04 during trading on Thursday, hitting $61.19. 874,006 shares of the company were exchanged, compared to its average volume of 1,114,939. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 1.24 and a beta of 1.16. The business’s 50-day simple moving average is $59.79 and its 200 day simple moving average is $60.74. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.05. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts forecast that Berry Global Group, Inc. will post 7.43 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.80%. Berry Global Group’s dividend payout ratio is currently 26.13%.

Insiders Place Their Bets

In other Berry Global Group news, Director Peter T. Thomas purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the purchase, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the sale, the chief financial officer now owns 119,384 shares in the company, valued at approximately $7,197,661.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the purchase, the director now directly owns 4,407 shares in the company, valued at approximately $262,216.50. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price target (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Bank of America increased their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 10th. 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 report on Tuesday, April 16th. Finally, 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 report on Wednesday, March 27th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Berry Global Group has a consensus rating of “Hold” and a consensus price target of $72.60.

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.