Wolverine Asset Management LLC Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Wolverine Asset Management LLC 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 firm bought 22,500 shares of the industrial products company’s stock, valued at approximately $1,516,000.

Several other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in shares of Berry Global Group in the 4th quarter worth $2,237,000. Teachers Retirement System of The State of Kentucky increased its holdings 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 acquiring an additional 19,674 shares in the last quarter. AQR Capital Management LLC increased its holdings 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 acquiring an additional 22,137 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Berry Global Group by 67.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock valued at $6,049,000 after purchasing an additional 39,200 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Berry Global Group by 60.1% in the 3rd 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 in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Wolfe Research assumed coverage on Berry Global Group in a research report on Friday, March 1st. They set a “peer perform” rating for the company. TheStreet cut Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Finally, Truist Financial reaffirmed a “hold” rating and set a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.00.

Berry Global Group Trading Up 1.0 %

Shares of Berry Global Group stock opened at $56.91 on Thursday. The firm has a 50-day simple moving average of $58.83 and a two-hundred day simple moving average of $61.45. The company has a market cap of $6.60 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Berry Global Group, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $69.93. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. As a group, equities analysts predict that Berry Global Group, Inc. will post 7.38 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s payout ratio is currently 23.66%.

Insider Buying and Selling

In other Berry Global Group news, Director Peter T. Thomas bought 2,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $112,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jonathan F. Foster bought 1,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $58.49 per share, with a total value of $58,490.00. Following the transaction, the director now directly owns 5,728 shares in the company, valued at approximately $335,030.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter T. Thomas acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $56.00 per share, with a total value of $112,000.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by company 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.