Texas Permanent School Fund Corp Sells 374 Shares of Berry Global Group, Inc. (NYSE:BERY)

Texas Permanent School Fund Corp lessened its stake in Berry Global Group, Inc. (NYSE:BERY) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,360 shares of the industrial products company’s stock after selling 374 shares during the period. Texas Permanent School Fund Corp’s holdings in Berry Global Group were worth $6,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BERY. GAMMA Investing LLC bought a new position in Berry Global Group during the fourth quarter worth $31,000. Blue Trust Inc. raised its position in shares of Berry Global Group by 203.7% in the 4th 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. Quarry LP raised its position in shares of Berry Global Group by 433.1% in the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 615 shares in the last quarter. CWM LLC lifted its stake in shares of Berry Global Group by 200.0% in the 4th quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 1,050 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Berry Global Group during the 4th quarter valued at about $238,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Transactions at Berry Global Group

In related news, Director Peter T. Thomas bought 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost 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 in the company, valued at $262,216.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Peter T. Thomas bought 1,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost 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 in the company, valued at approximately $262,216.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the transaction, the chief financial officer now owns 119,384 shares of the company’s stock, valued at approximately $7,197,661.36. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Berry Global Group Stock Up 1.2 %

Berry Global Group stock traded up $0.75 during midday trading on Friday, hitting $61.94. 70,105 shares of the stock were exchanged, compared to its average volume of 1,106,863. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The business’s 50-day moving average price is $59.79 and its 200-day moving average price is $60.74.

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

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, June 3rd. Berry Global Group’s dividend payout ratio is presently 26.13%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BERY. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 price target (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Truist Financial reissued a “hold” rating and set a $68.00 target price (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Bank of America raised their target price on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group presently has an average 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.