OLD National Bancorp IN Acquires New Holdings in Berry Global Group, Inc. (NYSE:BERY)

OLD National Bancorp IN acquired a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,405 shares of the industrial products company’s stock, valued at approximately $297,000.

Several other institutional investors also recently bought and sold shares of BERY. Sasco Capital Inc. CT purchased a new position in Berry Global Group during the third quarter valued at approximately $17,518,000. Invesco Ltd. grew its holdings in Berry Global Group by 60.1% in the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after purchasing an additional 233,368 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in Berry Global Group by 3,593.1% in the third quarter. Glenmede Trust Co. NA now owns 128,039 shares of the industrial products company’s stock worth $7,927,000 after purchasing an additional 124,572 shares during the last quarter. UBS Group AG lifted its position in Berry Global Group by 95.1% during the third quarter. UBS Group AG now owns 250,526 shares of the industrial products company’s stock valued at $15,510,000 after purchasing an additional 122,096 shares during the period. Finally, Harbour Trust & Investment Management Co acquired a new position in Berry Global Group during the fourth quarter valued at $7,205,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Stock Down 0.7 %

BERY stock opened at $56.54 on Friday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.76 and a beta of 1.25. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. Berry Global Group, Inc. has a 12 month low of $53.83 and a 12 month high of $69.93. The firm has a 50-day moving average of $58.81 and a two-hundred day moving average of $61.42.

Berry Global Group (NYSE:BERY) last released 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 business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, analysts forecast that Berry Global Group, Inc. will post 7.38 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.275 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.10 annualized dividend and a dividend yield of 1.95%. Berry Global Group’s dividend payout ratio (DPR) is 23.66%.

Insider Buying and Selling

In related news, Director Jonathan F. Foster acquired 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, with a total value of $58,490.00. Following the transaction, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction that occurred on 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 owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $58.49 per share, with a total value of $58,490.00. Following the transaction, the director now directly owns 5,728 shares in the company, valued at $335,030.72. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BERY has been the subject of a number of research reports. Truist Financial restated a “hold” rating and set a $68.00 target price (down from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Mizuho decreased their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Robert W. Baird restated a “neutral” rating and set a $65.00 target price (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. UBS Group boosted their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Wolfe Research assumed coverage on shares of Berry Global Group in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.00.

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.