Louisiana State Employees Retirement System Purchases Shares of 33,200 Berry Global Group, Inc. (NYSE:BERY)

Louisiana State Employees Retirement System purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, Holdings Channel.com reports. The firm purchased 33,200 shares of the industrial products company’s stock, valued at approximately $2,237,000.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in Berry Global Group by 150.9% during the 1st quarter. Quarry LP now owns 537 shares of the industrial products company’s stock valued at $32,000 after buying an additional 323 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Berry Global Group by 69.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 224 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Berry Global Group in the 1st quarter worth approximately $38,000. Blue Trust Inc. boosted its holdings in shares of Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 436 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Berry Global Group by 101.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,095 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 551 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BERY shares. Wolfe Research started coverage on Berry Global Group in a report on Friday, March 1st. They set a “peer perform” rating for the company. UBS Group boosted their price objective on Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Barclays dropped their price objective on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Robert W. Baird restated a “neutral” rating and set a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday. Finally, StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.00.

Insider Transactions at Berry Global Group

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

Berry Global Group Stock Down 0.1 %

Shares of BERY stock opened at $56.38 on Wednesday. Berry Global Group, Inc. has a 1-year low of $53.83 and a 1-year high of $69.93. The stock’s fifty day moving average price is $58.96 and its 200 day moving average price is $61.53. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, research analysts expect that Berry Global Group, Inc. will post 7.42 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

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

Berry Global Group Company 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.