Covestor Ltd Has $103,000 Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Covestor Ltd raised its holdings in Berry Global Group, Inc. (NYSE:BERY) by 87.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,691 shares of the industrial products company’s stock after purchasing an additional 789 shares during the quarter. Covestor Ltd’s holdings in Berry Global Group were worth $103,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BERY. Norges Bank acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $81,617,000. Vanguard Group Inc. lifted its stake in shares of Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares during the last quarter. TD Asset Management Inc bought a new position in shares of Berry Global Group in the 4th quarter valued at $23,803,000. Epoch Investment Partners Inc. lifted its stake in shares of Berry Global Group by 39.1% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,033,568 shares of the industrial products company’s stock valued at $69,652,000 after acquiring an additional 290,781 shares during the last quarter. Finally, Boone Capital Management LLC bought a new position in shares of Berry Global Group in the 4th quarter valued at $15,598,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of NYSE BERY traded up $0.34 during mid-day trading on Tuesday, reaching $63.67. 193,397 shares of the company’s stock were exchanged, compared to its average volume of 1,092,781. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $69.93. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The firm has a 50-day moving average price of $60.24 and a two-hundred day moving average price of $60.46.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.05. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm posted $1.96 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Analysts predict that Berry Global Group, Inc. will post 7.44 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.73%. The ex-dividend date was Monday, June 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America increased their price target 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. Truist Financial reiterated a “hold” rating and set a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Robert W. Baird reissued a “neutral” rating and issued a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday. Finally, UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.40.

Insider Buying and Selling

In other news, Director Peter T. Thomas acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $59.50 per share, with a total value of $59,500.00. Following the acquisition, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $59.50 per share, with a total value of $59,500.00. Following the acquisition, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Miles sold 1,118 shares of Berry Global Group stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the transaction, the chief financial officer now directly 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. 4.00% of the stock is currently owned by 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.