Oliver Lagore Vanvalin Investment Group Lowers Stake in Berry Global Group, Inc. (NYSE:BERY)

Oliver Lagore Vanvalin Investment Group cut its position in Berry Global Group, Inc. (NYSE:BERY) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,398 shares of the industrial products company’s stock after selling 432 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Berry Global Group were worth $162,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings in Berry Global Group by 1.5% in the first quarter. BlackRock Inc. now owns 5,416,478 shares of the industrial products company’s stock worth $319,031,000 after buying an additional 80,808 shares during the last quarter. State Street Corp raised its holdings in Berry Global Group by 70.2% in the second quarter. State Street Corp now owns 3,423,592 shares of the industrial products company’s stock worth $220,274,000 after buying an additional 1,412,532 shares during the last quarter. Macquarie Group Ltd. raised its holdings in Berry Global Group by 0.4% in the second quarter. Macquarie Group Ltd. now owns 2,667,381 shares of the industrial products company’s stock worth $145,746,000 after buying an additional 10,548 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Berry Global Group by 3.1% during the second quarter. Alliancebernstein L.P. now owns 1,958,327 shares of the industrial products company’s stock valued at $125,999,000 after purchasing an additional 58,583 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Berry Global Group by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,798,865 shares of the industrial products company’s stock valued at $104,268,000 after purchasing an additional 49,561 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Berry Global Group in a report on Friday, March 1st. They set a “peer perform” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Mizuho decreased their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. Truist Financial reissued a “hold” rating and set a $68.00 price objective (down from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.00.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $56.34 on Friday. The firm has a 50 day moving average of $58.95 and a 200 day moving average of $61.46. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.75 and a beta of 1.25. Berry Global Group, Inc. has a 12-month low of $53.83 and a 12-month high of $69.93.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. On average, research analysts anticipate that Berry Global Group, Inc. will post 7.41 earnings per share for the current year.

Berry Global Group Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly 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 accessible through this hyperlink. In related news, 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 purchased at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $112,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan F. Foster bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were bought 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 disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

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.