California Public Employees Retirement System Has $15.62 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

California Public Employees Retirement System lessened its holdings in Berry Global Group, Inc. (NYSE:BERY) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,817 shares of the industrial products company’s stock after selling 11,712 shares during the period. California Public Employees Retirement System owned about 0.20% of Berry Global Group worth $15,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ancora Advisors LLC raised its stake in shares of Berry Global Group by 5.7% in the third quarter. Ancora Advisors LLC now owns 1,238,927 shares of the industrial products company’s stock worth $76,702,000 after purchasing an additional 66,787 shares during the last quarter. AQR Capital Management LLC raised its position in Berry Global Group by 2.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock valued at $62,230,000 after buying an additional 22,137 shares during the last quarter. Mariner LLC lifted its stake in Berry Global Group by 7.8% during the 3rd quarter. Mariner LLC now owns 949,817 shares of the industrial products company’s stock valued at $58,803,000 after acquiring an additional 69,062 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Berry Global Group by 10.9% during the 3rd quarter. William Blair Investment Management LLC now owns 764,503 shares of the industrial products company’s stock worth $47,330,000 after acquiring an additional 74,871 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Berry Global Group by 60.1% in the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after acquiring an additional 233,368 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insiders Place Their Bets

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

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $57.44 on Tuesday. The company has a 50-day moving average price of $58.71 and a two-hundred day moving average price of $61.46. Berry Global Group, Inc. has a twelve month low of $53.83 and a twelve month high of $69.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $6.66 billion, a PE ratio of 12.35, a P/E/G ratio of 0.77 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 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 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 firm’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. Equities analysts forecast that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.92%. Berry Global Group’s dividend payout ratio (DPR) is 23.66%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wolfe Research initiated coverage on shares of Berry Global Group in a research note on Friday, March 1st. They issued 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 stock a “buy” rating in a research report on Tuesday, January 16th. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Truist Financial reiterated a “hold” rating and set a $68.00 target price (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price target (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Berry Global Group has an average rating of “Hold” and an average price target of $72.00.

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.