Tectonic Advisors LLC Boosts Position in Berry Global Group, Inc. (NYSE:BERY)

Tectonic Advisors LLC grew its stake in Berry Global Group, Inc. (NYSE:BERY) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,869 shares of the industrial products company’s stock after buying an additional 2,168 shares during the quarter. Berry Global Group makes up 0.8% of Tectonic Advisors LLC’s portfolio, making the stock its 19th biggest holding. Tectonic Advisors LLC owned 0.12% of Berry Global Group worth $9,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP grew its position in shares of Berry Global Group by 150.9% during the first quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 323 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Berry Global Group by 69.6% during 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 in the last quarter. Brown Brothers Harriman & Co. bought a new position in Berry Global Group during the first quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. boosted its stake in Berry Global Group by 101.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,095 shares of the industrial products company’s stock valued at $66,000 after buying an additional 551 shares during the last quarter. Finally, DecisionPoint Financial LLC bought a new position in Berry Global Group during the second quarter valued at approximately $68,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Down 0.4 %

BERY opened at $59.23 on Wednesday. The stock’s fifty day moving average is $61.11 and its two-hundred day moving average is $61.90. The company has a market capitalization of $6.86 billion, a P/E ratio of 12.74, a PEG ratio of 0.80 and a beta of 1.25. Berry Global Group, Inc. has a 52 week low of $53.83 and a 52 week high of $69.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the business posted $1.30 earnings per share. The company’s revenue was down 6.8% compared to the same quarter last year. Analysts forecast that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.275 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.86%. Berry Global Group’s dividend payout ratio is presently 23.66%.

Insider Activity

In other Berry Global Group news, Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was purchased at an average price of $56.00 per share, with a total value of $112,000.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $112,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Peter T. Thomas purchased 2,000 shares of the 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 transaction, the director now owns 2,000 shares in the company, valued at approximately $112,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan F. Foster acquired 1,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 5,728 shares in the company, valued at $335,030.72. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

BERY has been the subject of a number of research reports. Mizuho dropped their price target on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Barclays lowered their price objective on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. TheStreet lowered Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a research note on Wednesday. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.78.

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.