GAMMA Investing LLC Takes Position in Berry Global Group, Inc. (NYSE:BERY)

GAMMA Investing LLC purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 469 shares of the industrial products company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC boosted its holdings in shares of Berry Global Group by 18.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,717 shares of the industrial products company’s stock worth $924,000 after purchasing an additional 2,170 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Berry Global Group by 78.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 30,024 shares of the industrial products company’s stock worth $2,023,000 after acquiring an additional 13,228 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Berry Global Group by 20.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 108,062 shares of the industrial products company’s stock worth $7,282,000 after acquiring an additional 18,049 shares during the period. Duality Advisers LP acquired a new position in shares of Berry Global Group during the 4th quarter valued at about $769,000. Finally, OLD National Bancorp IN purchased a new stake in shares of Berry Global Group in the fourth quarter valued at about $297,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BERY shares. Barclays dropped their price target on shares of 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 cut Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Robert W. Baird reissued a “neutral” rating and set a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus target price of $72.00.

Insider Activity

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

Berry Global Group Trading Up 0.8 %

NYSE BERY opened at $58.86 on Monday. 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 firm has a market cap of $6.82 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.80 and a beta of 1.24. The firm has a 50 day simple moving average of $58.57 and a 200-day simple moving average of $61.48. Berry Global Group, Inc. has a one year low of $53.92 and a one year high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 EPS. Equities research analysts anticipate that Berry Global Group, Inc. will post 7.38 EPS for the current fiscal year.

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.