Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Berry Global Group, Inc. (NYSE:BERY) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,731,029 shares of the industrial products company’s stock after selling 87,114 shares during the period. Vanguard Group Inc. owned 10.12% of Berry Global Group worth $790,554,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of Berry Global Group by 53.4% during the third quarter. HighTower Advisors LLC now owns 6,098 shares of the industrial products company’s stock worth $376,000 after purchasing an additional 2,123 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Berry Global Group during the 3rd quarter valued at approximately $406,000. Envestnet Portfolio Solutions Inc. bought a new position in Berry Global Group during the third quarter worth $226,000. Envestnet Asset Management Inc. boosted its holdings in Berry Global Group by 40.8% in the third quarter. Envestnet Asset Management Inc. now owns 283,443 shares of the industrial products company’s stock worth $17,548,000 after purchasing an additional 82,144 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Berry Global Group by 60.1% during the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after purchasing an additional 233,368 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Trading Down 0.0 %

Berry Global Group stock opened at $60.85 on Friday. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The stock has a market capitalization of $6.96 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.19. The firm has a 50 day simple moving average of $59.10 and a 200-day simple moving average of $61.47.

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

Berry Global Group Announces Dividend

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

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BERY shares. Wolfe Research began coverage on shares of Berry Global Group in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 target price (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Finally, Bank of America increased their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.