Meritage Portfolio Management Acquires 485 Shares of Berry Global Group, Inc. (NYSE:BERY)

Meritage Portfolio Management lifted its holdings in Berry Global Group, Inc. (NYSE:BERY) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,153 shares of the industrial products company’s stock after buying an additional 485 shares during the period. Meritage Portfolio Management’s holdings in Berry Global Group were worth $617,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BERY. AE Wealth Management LLC grew its holdings in Berry Global Group by 3.8% during the 3rd quarter. AE Wealth Management LLC now owns 17,542 shares of the industrial products company’s stock valued at $1,086,000 after purchasing an additional 647 shares during the last quarter. SG Americas Securities LLC bought a new position in Berry Global Group during the 3rd quarter valued at about $101,000. Oak Thistle LLC grew its holdings in Berry Global Group by 117.7% during the 3rd quarter. Oak Thistle LLC now owns 8,809 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 4,763 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Berry Global Group by 50.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,060 shares of the industrial products company’s stock worth $1,675,000 after acquiring an additional 9,100 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in Berry Global Group by 12.2% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 11,547 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 1,260 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on BERY. UBS Group upped their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Mizuho dropped their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Truist Financial restated a “hold” rating and issued a $68.00 target price (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Finally, TheStreet cut shares of Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $72.00.

Insider Activity at Berry Global Group

In related news, Director Jonathan F. Foster purchased 1,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the purchase, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jonathan F. Foster purchased 1,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the purchase, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter T. Thomas purchased 2,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Berry Global Group Stock Up 1.1 %

NYSE:BERY traded up $0.63 during midday trading on Friday, reaching $57.18. 179,801 shares of the stock traded hands, compared to its average volume of 1,129,583. Berry Global Group, Inc. has a 12-month low of $53.83 and a 12-month high of $69.93. The business has a 50-day moving average of $58.76 and a two-hundred day moving average of $61.38. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The stock has a market capitalization of $6.63 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 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 firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the company earned $1.30 EPS. The company’s revenue was down 6.8% on a year-over-year basis. On average, equities analysts forecast 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 announced 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. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.92%. Berry Global Group’s payout ratio is 23.66%.

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.