Simplicity Solutions LLC Trims Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Simplicity Solutions LLC trimmed its position in Berry Global Group, Inc. (NYSE:BERY) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,851 shares of the industrial products company’s stock after selling 329 shares during the period. Simplicity Solutions LLC’s holdings in Berry Global Group were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Sapient Capital LLC acquired a new stake in Berry Global Group in the fourth quarter valued at approximately $525,000. Harbour Trust & Investment Management Co acquired a new stake in Berry Global Group in the fourth quarter valued at approximately $7,205,000. Sequoia Financial Advisors LLC boosted its stake in Berry Global Group by 291.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 13,538 shares of the industrial products company’s stock valued at $912,000 after acquiring an additional 10,083 shares in the last quarter. Oak Thistle LLC boosted its stake in Berry Global Group by 53.1% in the fourth quarter. Oak Thistle LLC now owns 13,484 shares of the industrial products company’s stock valued at $909,000 after acquiring an additional 4,675 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Berry Global Group by 203.7% in the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 436 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. UBS Group lifted their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Robert W. Baird reiterated a “neutral” rating and set a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a research note on Tuesday. TheStreet downgraded shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Wolfe Research assumed coverage on shares of Berry Global Group in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and an average price target of $72.00.

Berry Global Group Trading Down 0.9 %

Shares of Berry Global Group stock opened at $55.92 on Thursday. 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 firm has a fifty day moving average price of $58.94 and a 200 day moving average price of $61.49. Berry Global Group, Inc. has a 1 year low of $53.83 and a 1 year high of $69.93. The stock has a market cap of $6.48 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data 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). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $1.30 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts predict that Berry Global Group, Inc. will post 7.42 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.97%. Berry Global Group’s payout ratio is 23.66%.

Insider Buying and Selling at Berry Global Group

In other news, Director Jonathan F. Foster acquired 1,000 shares of the business’s stock in a transaction 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 completion of the acquisition, the director now owns 5,728 shares of the company’s stock, valued at $335,030.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jonathan F. Foster bought 1,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $58.49 per share, with a total value of $58,490.00. Following the completion of the purchase, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter T. Thomas bought 2,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, with a total value of $112,000.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by corporate insiders.

About Berry Global Group

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.