Berry Global Group, Inc. (NYSE:BERY) Shares Bought by Spears Abacus Advisors LLC

Spears Abacus Advisors LLC lifted its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,689 shares of the industrial products company’s stock after acquiring an additional 15,471 shares during the quarter. Berry Global Group comprises about 1.9% of Spears Abacus Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Spears Abacus Advisors LLC owned 0.31% of Berry Global Group worth $21,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Berry Global Group by 335.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,736 shares of the industrial products company’s stock valued at $738,000 after acquiring an additional 9,812 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Berry Global Group by 71.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,152 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 4,640 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Berry Global Group during the first quarter worth approximately $329,000. MetLife Investment Management LLC bought a new stake in Berry Global Group during the first quarter worth approximately $156,000. Finally, Great West Life Assurance Co. Can grew its position in Berry Global Group by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 8,248 shares of the industrial products company’s stock worth $509,000 after buying an additional 314 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Berry Global Group Stock Up 0.6 %

BERY stock traded up $0.40 during trading hours on Tuesday, hitting $63.01. The company’s stock had a trading volume of 357,486 shares, compared to its average volume of 1,023,955. The stock has a 50 day moving average price of $64.50 and a two-hundred day moving average price of $61.16. Berry Global Group, Inc. has a 12 month low of $44.52 and a 12 month high of $68.01. The company has a market capitalization of $7.44 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.19. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 2.72.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.07). The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.42 billion. Berry Global Group had a return on equity of 27.67% and a net margin of 5.05%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.03 earnings per share. On average, equities research analysts expect that Berry Global Group, Inc. will post 7.29 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. Berry Global Group’s dividend payout ratio is presently 18.87%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BERY. Bank of America raised their price objective on Berry Global Group from $70.00 to $75.00 in a research note on Monday, July 10th. Truist Financial raised shares of Berry Global Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $73.00 in a research note on Wednesday, May 24th. Royal Bank of Canada boosted their target price on shares of Berry Global Group from $73.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Jefferies Financial Group raised their target price on Berry Global Group from $76.00 to $87.00 in a research report on Tuesday, July 18th. Finally, Citigroup upped their price target on Berry Global Group from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group has a consensus rating of “Moderate Buy” and a consensus target price of $73.54.

Insiders Place Their Bets

In related news, President William J. Norman sold 9,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $66.48, for a total value of $598,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President William J. Norman sold 9,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $66.48, for a total transaction of $598,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Edward Hill sold 24,910 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $64.13, for a total transaction of $1,597,478.30. The disclosure for this sale can be found here. Insiders have sold 67,520 shares of company stock worth $4,430,448 over the last 90 days. Corporate insiders own 3.30% 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. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.