Louisiana State Employees Retirement System Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Louisiana State Employees Retirement System bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,200 shares of the industrial products company's stock, valued at approximately $2,237,000.

Other hedge funds have also recently modified their holdings of the company. Quarry LP raised its position in Berry Global Group by 150.9% in the 1st quarter. Quarry LP now owns 537 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 323 shares during the last quarter. First Horizon Advisors Inc. grew its position in Berry Global Group by 69.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company's stock valued at $34,000 after buying an additional 224 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Berry Global Group in the 1st quarter valued at $38,000. Blue Trust Inc. raised its position in Berry Global Group by 203.7% during the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company's stock worth $40,000 after buying an additional 436 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Berry Global Group by 101.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,095 shares of the industrial products company's stock worth $66,000 after acquiring an additional 551 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial reissued a "hold" rating and set a $68.00 price target (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. UBS Group increased their price target on shares of Berry Global Group from $76.00 to $89.00 and gave the company a "buy" rating in a report on Tuesday, January 16th. Barclays decreased their price objective on shares of Berry Global Group from $67.00 to $64.00 and set an "equal weight" rating on the stock in a report on Monday, February 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $62.00 target price (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Finally, Robert W. Baird reissued 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. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Berry Global Group presently has an average rating of "Hold" and an average price target of $72.00.

Berry Global Group Price Performance

Berry Global Group stock traded down $0.48 during mid-day trading on Wednesday, hitting $55.92. 689,122 shares of the company were exchanged, compared to its average volume of 1,174,418. Berry Global Group, Inc. has a 12-month low of $53.83 and a 12-month high of $69.93. The company has a market capitalization of $6.48 billion, a P/E ratio of 12.03, a PEG ratio of 0.76 and a beta of 1.25. The business's 50 day simple moving average is $58.94 and its two-hundred day simple moving average is $61.49. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Analysts forecast that Berry Global Group, Inc. will post 7.42 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 1.97%. Berry Global Group's dividend payout ratio (DPR) is currently 23.66%.

Berry Global Group 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.