BNP Paribas Financial Markets Sells 18,010 Shares of Berry Global Group, Inc. (NYSE:BERY)

BNP Paribas Financial Markets cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,945 shares of the industrial products company’s stock after selling 18,010 shares during the period. BNP Paribas Financial Markets’ holdings in Berry Global Group were worth $5,440,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. M&T Bank Corp boosted its stake in 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 buying an additional 173 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Berry Global Group by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the industrial products company’s stock worth $2,020,000 after purchasing an additional 200 shares in the last quarter. State of Michigan Retirement System boosted its stake in Berry Global Group by 0.7% in the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after purchasing an additional 200 shares in the last quarter. First Hawaiian Bank boosted its stake in Berry Global Group by 11.2% in the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 376 shares in the last quarter. Finally, AGF Management Ltd. boosted its stake in Berry Global Group by 2.6% in the fourth quarter. AGF Management Ltd. now owns 16,042 shares of the industrial products company’s stock worth $1,081,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Trading Up 3.4 %

NYSE BERY opened at $61.19 on Friday. The stock has a 50-day simple moving average of $59.79 and a 200 day simple moving average of $60.74. The company has a market capitalization of $7.00 billion, a PE ratio of 14.53, a P/E/G ratio of 1.24 and a beta of 1.16. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. Berry Global Group, Inc. has a 12 month low of $53.92 and a 12 month high of $69.93.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.05. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.16 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 earnings per share. Research analysts forecast that Berry Global Group, Inc. will post 7.43 EPS for the current 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. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.80%. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Truist Financial reissued a “hold” rating and issued a $68.00 price objective (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Bank of America boosted their price objective on Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Finally, StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.60.

Insiders Place Their Bets

In other Berry Global Group news, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction dated 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 $7,197,661.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Peter T. Thomas acquired 1,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 4,407 shares in the company, valued at $262,216.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the transaction, the chief financial officer now owns 119,384 shares of the company’s stock, valued at $7,197,661.36. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Company 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.