Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 56.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,250 shares of the industrial products company’s stock after selling 5,468 shares during the period. Nisa Investment Advisors LLC’s holdings in Berry Global Group were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BERY. State Street Corp raised its holdings in shares of Berry Global Group by 70.2% in the second quarter. State Street Corp now owns 3,423,592 shares of the industrial products company’s stock valued at $220,274,000 after buying an additional 1,412,532 shares during the last quarter. Norges Bank purchased a new stake in Berry Global Group during the 4th quarter valued at approximately $67,056,000. Marshall Wace LLP lifted its position in Berry Global Group by 1,301.8% during the 4th quarter. Marshall Wace LLP now owns 423,479 shares of the industrial products company’s stock worth $25,591,000 after acquiring an additional 393,269 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Berry Global Group by 267.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 513,044 shares of the industrial products company’s stock valued at $33,009,000 after purchasing an additional 373,354 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of Berry Global Group in the 1st quarter valued at approximately $19,082,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of BERY stock opened at $56.34 on Friday. The stock has a fifty day moving average price of $58.95 and a 200 day moving average price of $61.46. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The stock has a market cap of $6.53 billion, a PE ratio of 12.12, a P/E/G ratio of 0.76 and a beta of 1.25. Berry Global Group, Inc. has a 1 year low of $53.83 and a 1 year high of $69.93.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Sell-side analysts forecast that Berry Global Group, Inc. will post 7.41 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.275 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.10 annualized dividend and a dividend yield of 1.95%. Berry Global Group’s dividend payout ratio is presently 23.66%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BERY shares. UBS Group increased their price target on Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Truist Financial reiterated 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. Finally, Mizuho reduced their price target on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.00.

Insider Transactions at Berry Global Group

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

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.