Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Berry Global Group, Inc. (NYSE:BERY)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Berry Global Group, Inc. (NYSE:BERY) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,725 shares of the industrial products company’s stock after buying an additional 2,816 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Berry Global Group were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in shares of Berry Global Group in the 4th quarter valued at about $2,237,000. Teachers Retirement System of The State of Kentucky raised its stake in Berry Global Group by 96.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock worth $2,488,000 after buying an additional 19,674 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Berry Global Group by 2.3% during the third quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after buying an additional 22,137 shares during the period. Canada Pension Plan Investment Board boosted its position in Berry Global Group by 67.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock valued at $6,049,000 after acquiring an additional 39,200 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Berry Global Group by 60.1% in the 3rd quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after acquiring an additional 233,368 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Insider Activity at Berry Global Group

In other news, Director Jonathan F. Foster bought 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were bought at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the acquisition, the director now directly 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 the SEC website. In other Berry Global Group news, Director Jonathan F. Foster purchased 1,000 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired 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 in the company, valued at approximately $335,030.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter T. Thomas acquired 2,000 shares of the business’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 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 insiders.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $56.91 on Thursday. The company’s 50 day moving average is $58.83 and its 200 day moving average is $61.45. The company has a market cap of $6.60 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.77 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 twelve month low of $53.83 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts forecast that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.10 annualized dividend and a dividend yield of 1.93%. Berry Global Group’s payout ratio is 23.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. 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. UBS Group upped their price target on Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and an average 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.