J.P. Morgan Private Wealth Advisors LLC Trims Stake in Berry Global Group, Inc. (NYSE:BERY)

J.P. Morgan Private Wealth Advisors LLC lessened its holdings in shares of Berry Global Group, Inc. (NYSE:BERYFree Report) by 2.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 54,759 shares of the industrial products company’s stock after selling 1,402 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Berry Global Group were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Berry Global Group by 91.7% in the second quarter. BlackRock Inc. now owns 10,384,657 shares of the industrial products company’s stock valued at $668,149,000 after purchasing an additional 4,968,179 shares during the period. State Street Corp boosted its stake in 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 acquiring an additional 1,412,532 shares in the last quarter. Norges Bank purchased a new position in Berry Global Group in the fourth quarter worth $67,056,000. Bank of New York Mellon Corp increased its position in shares of Berry Global Group by 86.9% during the second quarter. Bank of New York Mellon Corp now owns 1,264,517 shares of the industrial products company’s stock worth $81,359,000 after purchasing an additional 588,055 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Berry Global Group by 166.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 790,828 shares of the industrial products company’s stock valued at $50,881,000 after purchasing an additional 494,118 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $55.94 on Friday. The stock’s 50-day simple moving average is $66.21 and its 200-day simple moving average is $63.09. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.10 and a current ratio of 1.67. Berry Global Group, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $69.93. The firm has a market capitalization of $6.49 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.29.

Berry Global Group (NYSE:BERYGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.81% and a return on equity of 27.56%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 7.59 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is 22.00%.

Insider Activity

In other news, CFO Mark W. Miles sold 40,000 shares of Berry Global Group stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $66.29, for a total transaction of $2,651,600.00. Following the completion of the sale, the chief financial officer now directly owns 84,502 shares in the company, valued at $5,601,637.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jason K. Greene sold 24,480 shares of Berry Global Group stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $64.62, for a total value of $1,581,897.60. Following the transaction, the insider now directly owns 250 shares of the company’s stock, valued at approximately $16,155. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Miles sold 40,000 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $66.29, for a total value of $2,651,600.00. Following the sale, the chief financial officer now owns 84,502 shares of the company’s stock, valued at approximately $5,601,637.58. The disclosure for this sale can be found here. In the last three months, insiders sold 103,383 shares of company stock worth $6,763,752. Company insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BERY. Royal Bank of Canada cut their price target on shares of Berry Global Group from $78.00 to $74.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 21st. Mizuho cut their price objective on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday. Jefferies Financial Group decreased their target price on shares of Berry Global Group from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. Truist Financial lifted their price target on shares of Berry Global Group from $74.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company lifted their target price on shares of Berry Global Group from $72.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.

Get Our Latest Stock Analysis on BERY

Berry Global Group Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding BERY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Berry Global Group, Inc. (NYSE:BERYFree Report).

Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.