First Hawaiian Bank Increases Stake in Berry Global Group, Inc. (NYSE:BERY)

First Hawaiian Bank increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,725 shares of the industrial products company’s stock after purchasing an additional 376 shares during the period. First Hawaiian Bank’s holdings in Berry Global Group were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new position in shares of Berry Global Group during the fourth quarter valued at approximately $2,237,000. Goldman Sachs Group Inc. grew its position in Berry Global Group by 6.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after acquiring an additional 48,484 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Berry Global Group by 96.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock worth $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 worth $2,508,000. Finally, AQR Capital Management LLC boosted its stake in shares of Berry Global Group by 2.3% during 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 purchasing an additional 22,137 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Price Performance

BERY opened at $60.85 on Friday. The firm 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 company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. The business’s 50-day moving average is $59.10 and its two-hundred day moving average is $61.47. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.05. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Research analysts anticipate that Berry Global Group, Inc. will post 7.43 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird reiterated 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, April 16th. Bank of America boosted their price target on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 10th. Truist Financial restated a “hold” rating and set a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Wolfe Research initiated coverage on Berry Global Group in a report on Friday, March 1st. They issued a “peer perform” rating for the company. 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 note on Friday, March 15th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.60.

Insider Buying and Selling

In other Berry Global Group news, Director Peter T. Thomas purchased 1,000 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter T. Thomas bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares in the company, valued at $262,216.50. The disclosure for this purchase can be found here. 4.00% of the stock is owned by company insiders.

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.