Victory Capital Management Inc. Has $20.39 Million Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Victory Capital Management Inc. raised its stake in shares of Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 337,049 shares of the industrial products company’s stock after purchasing an additional 21,039 shares during the period. Victory Capital Management Inc.’s holdings in Berry Global Group were worth $20,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BERY. BerganKDV Wealth Management LLC acquired a new position in Berry Global Group during the fourth quarter valued at approximately $26,000. Brown Brothers Harriman & Co. acquired a new position in Berry Global Group during the first quarter valued at approximately $38,000. Lansing Street Advisors acquired a new position in Berry Global Group during the fourth quarter valued at approximately $46,000. Belpointe Asset Management LLC acquired a new position in Berry Global Group during the fourth quarter valued at approximately $50,000. Finally, Ronald Blue Trust Inc. grew its holdings in Berry Global Group by 78.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,653 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 725 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

Berry Global Group Stock Down 1.3 %

Shares of NYSE BERY opened at $58.11 on Monday. The stock has a market cap of $6.93 billion, a PE ratio of 10.19, a PEG ratio of 0.79 and a beta of 1.16. The business has a fifty day moving average of $57.47 and a two-hundred day moving average of $58.71. Berry Global Group, Inc. has a 52-week low of $44.52 and a 52-week high of $66.21. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.15 and a current ratio of 1.95.

Berry Global Group (NYSE:BERY – Get Rating) last announced its earnings results on Thursday, May 4th. The industrial products company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.11. Berry Global Group had a return on equity of 29.37% and a net margin of 5.34%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, equities research analysts expect that Berry Global Group, Inc. will post 7.43 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. Berry Global Group’s dividend payout ratio (DPR) is presently 17.54%.

Analyst Ratings Changes

Several research firms have recently weighed in on BERY. StockNews.com began coverage on Berry Global Group in a research report on Thursday. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Berry Global Group from $70.00 to $75.00 in a research report on Friday, February 3rd. Robert W. Baird increased their price objective on Berry Global Group from $68.00 to $74.00 in a research report on Friday, February 3rd. Citigroup increased their price objective on Berry Global Group from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Sunday, February 5th. Finally, Wells Fargo & Company increased their price objective on Berry Global Group from $68.00 to $75.00 in a research report on Monday, February 6th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Insider Activity

In other news, CFO Mark W. Miles sold 37,942 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $61.27, for a total value of $2,324,706.34. Following the completion of the sale, the chief financial officer now directly owns 47,058 shares in the company, valued at $2,883,243.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by corporate insiders.

Berry Global Group Profile

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Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.