Mutual of America Capital Management LLC Sells 9,681 Shares of Berry Global Group, Inc. (NYSE:BERY)

Mutual of America Capital Management LLC cut its position in Berry Global Group, Inc. (NYSE:BERYFree Report) by 11.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 76,742 shares of the industrial products company’s stock after selling 9,681 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Berry Global Group worth $4,751,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quarry LP raised its holdings in Berry Global Group by 150.9% in the first quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after buying an additional 323 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Berry Global Group by 69.6% in the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 224 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Berry Global Group in the first quarter worth approximately $38,000. Quadrant Capital Group LLC grew its stake in shares of Berry Global Group by 44.5% in the second quarter. Quadrant Capital Group LLC now owns 893 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 275 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Berry Global Group by 101.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,095 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 551 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Peter T. Thomas purchased 2,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $112,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Peter T. Thomas bought 2,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were purchased at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $112,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Miles sold 40,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $66.29, for a total transaction of $2,651,600.00. Following the completion of the transaction, the chief financial officer now directly owns 84,502 shares in the company, valued at approximately $5,601,637.58. The disclosure for this sale can be found here. Insiders sold a total of 103,383 shares of company stock worth $6,763,752 over the last three months. 4.00% of the stock is currently owned by company insiders.

Berry Global Group Stock Performance

BERY opened at $58.67 on Tuesday. The firm has a market cap of $6.80 billion, a P/E ratio of 12.62, a PEG ratio of 0.78 and a beta of 1.29. Berry Global Group, Inc. has a 1-year low of $53.83 and a 1-year high of $69.93. The company has a 50 day simple moving average of $65.90 and a two-hundred day simple moving average of $62.94. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95.

Berry Global Group (NYSE:BERYGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 earnings per share. Equities analysts forecast that Berry Global Group, Inc. will post 7.52 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a $0.275 dividend. The ex-dividend date is Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.87%. Berry Global Group’s payout ratio is currently 23.66%.

Analysts Set New Price Targets

A number of analysts have recently commented on BERY shares. Truist Financial lifted their price target on shares of Berry Global Group from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Jefferies Financial Group reduced their price target on shares of Berry Global Group from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Mizuho cut their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. UBS Group boosted their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Barclays cut their target price on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.67.

Check Out 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.

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

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