Sasco Capital Inc. CT Purchases New Position in Berry Global Group, Inc. (NYSE:BERY)

Sasco Capital Inc. CT purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERYFree Report) in the third quarter, Holdings Channel.com reports. The firm purchased 282,960 shares of the industrial products company’s stock, valued at approximately $17,518,000. Berry Global Group accounts for approximately 2.3% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds have also recently made changes to their positions in BERY. Connable Office Inc. increased its holdings in shares of Berry Global Group by 2.5% in the second quarter. Connable Office Inc. now owns 6,481 shares of the industrial products company’s stock worth $417,000 after buying an additional 160 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Berry Global Group by 2.5% in the second quarter. Guggenheim Capital LLC now owns 6,983 shares of the industrial products company’s stock worth $449,000 after buying an additional 168 shares during the period. Eqis Capital Management Inc. increased its holdings in shares of Berry Global Group by 1.5% in the fourth quarter. Eqis Capital Management Inc. now owns 12,194 shares of the industrial products company’s stock worth $737,000 after buying an additional 181 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Berry Global Group by 0.3% in the third quarter. EverSource Wealth Advisors LLC now owns 78,197 shares of the industrial products company’s stock worth $4,841,000 after purchasing an additional 222 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Berry Global Group by 69.6% in the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 224 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group lifted their price objective on Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Mizuho lowered their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Berry Global Group from $72.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, December 18th. Royal Bank of Canada decreased their price objective on shares of Berry Global Group from $78.00 to $74.00 and set an “outperform” rating for the company in a report on Tuesday, November 21st. Finally, Jefferies Financial Group decreased their price objective on shares of Berry Global Group from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.13.

Read Our Latest Stock Report on Berry Global Group

Berry Global Group Trading Down 1.4 %

NYSE BERY traded down $0.77 during trading on Thursday, hitting $55.94. The stock had a trading volume of 3,014,829 shares, compared to its average volume of 1,057,168. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.10 and a current ratio of 1.67. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 0.85 and a beta of 1.29. Berry Global Group, Inc. has a one year low of $53.83 and a one year high of $69.93. The stock has a 50 day simple moving average of $66.21 and a 200 day simple moving average of $63.09.

Berry Global Group (NYSE:BERYGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.99 billion. Berry Global Group had a net margin of 4.81% and a return on equity of 27.56%. The business’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Sell-side analysts predict that Berry Global Group, Inc. will post 7.59 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, February 29th. Berry Global Group’s payout ratio is 22.00%.

Insider Activity at Berry Global Group

In other news, CFO Mark W. Miles sold 40,000 shares of Berry Global Group stock in a transaction on Monday, December 4th. The shares were sold at an average price of $66.29, for a total transaction of $2,651,600.00. Following the completion of the sale, the chief financial officer now directly owns 84,502 shares in the company, valued at $5,601,637.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark W. Miles sold 40,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $66.29, for a total transaction of $2,651,600.00. Following the completion of the transaction, the chief financial officer now directly owns 84,502 shares in the company, valued at $5,601,637.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason K. Greene sold 24,480 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $64.62, for a total transaction of $1,581,897.60. Following the completion of the transaction, the insider now owns 250 shares of the company’s stock, valued at approximately $16,155. The disclosure for this sale can be found here. Insiders have sold a total of 103,383 shares of company stock valued at $6,763,752 over the last ninety days. 4.00% of the stock is owned by company insiders.

About Berry Global Group

(Free Report)

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.

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Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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