Quadrature Capital Ltd Makes New $500,000 Investment in Berry Global Group, Inc. (NYSE:BERY)

Quadrature Capital Ltd bought a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,413 shares of the industrial products company’s stock, valued at approximately $500,000.

A number of other large investors have also added to or reduced their stakes in BERY. M&T Bank Corp raised its position in shares of Berry Global Group by 2.0% in the 4th quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 173 shares in the last quarter. AGF Management Ltd. grew its holdings in Berry Global Group by 2.6% during the 4th quarter. AGF Management Ltd. now owns 16,042 shares of the industrial products company’s stock worth $1,081,000 after acquiring an additional 404 shares in the last quarter. Blue Trust Inc. increased its position in shares of Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 436 shares during the last quarter. Guardian Wealth Management Inc. raised its stake in shares of Berry Global Group by 1.4% in the 4th quarter. Guardian Wealth Management Inc. now owns 32,521 shares of the industrial products company’s stock valued at $2,192,000 after purchasing an additional 445 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Berry Global Group by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 147,914 shares of the industrial products company’s stock valued at $9,968,000 after purchasing an additional 453 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

Shares of BERY opened at $60.85 on Monday. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The firm has a market capitalization of $6.96 billion, a PE ratio of 14.45, a P/E/G ratio of 1.27 and a beta of 1.19. The firm has a 50-day moving average price of $59.10 and a 200 day moving average price of $61.44. 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 posted its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.05. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 EPS. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 7.43 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

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

Analyst Ratings Changes

BERY has been the subject of several research analyst reports. TheStreet lowered Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. 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 report on Friday, May 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Truist Financial reiterated a “hold” rating and set a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, Wolfe Research assumed coverage on shares of Berry Global Group in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. 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 has a consensus rating of “Hold” and an average price target of $72.60.

Insider Activity

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