Goldman Sachs Group Inc. Purchases 48,484 Shares of Berry Global Group, Inc. (NYSE:BERY)

Goldman Sachs Group Inc. increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 763,860 shares of the industrial products company’s stock after purchasing an additional 48,484 shares during the period. Goldman Sachs Group Inc. owned about 0.66% of Berry Global Group worth $51,477,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $2,237,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Berry Global Group by 96.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock valued at $2,488,000 after purchasing an additional 19,674 shares during the period. South Dakota Investment Council bought a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $2,508,000. AQR Capital Management LLC grew its position in Berry Global Group by 2.3% in the third quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock valued at $62,230,000 after acquiring an additional 22,137 shares during the period. Finally, Invesco Ltd. grew its position in Berry Global Group by 60.1% in the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after acquiring an additional 233,368 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Peter T. Thomas acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the acquisition, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Peter T. Thomas acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, with a total value of $59,500.00. Following the acquisition, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of Berry Global Group stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the completion of the transaction, the chief financial officer now owns 119,384 shares in the company, valued at approximately $7,197,661.36. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Berry Global Group Stock Performance

BERY opened at $60.63 on Thursday. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.25 and a beta of 1.19. The business has a 50 day moving average of $58.97 and a 200-day moving average of $61.54. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.05. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.96 EPS. On average, equities research analysts expect that Berry Global Group, Inc. will post 7.43 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.275 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.10 annualized dividend and a yield of 1.81%. Berry Global Group’s payout ratio is currently 26.13%.

Analyst Ratings Changes

BERY has been the topic of a number of analyst reports. StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Bank of America upped their price target on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Wolfe Research began coverage on Berry Global Group in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada reaffirmed 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 note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average price target of $72.60.

Berry Global Group 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.