Sound Income Strategies LLC Buys 16,716 Shares of Berry Global Group, Inc. (NYSE:BERY)

Sound Income Strategies LLC boosted its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 44.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,682 shares of the industrial products company’s stock after acquiring an additional 16,716 shares during the period. Sound Income Strategies LLC’s holdings in Berry Global Group were worth $3,307,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BERY. Louisiana State Employees Retirement System bought a new stake in Berry Global Group during the 4th quarter worth approximately $2,237,000. Goldman Sachs Group Inc. boosted its stake in Berry Global Group by 6.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock valued at $51,477,000 after acquiring an additional 48,484 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Berry Global Group by 96.0% in the 3rd 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 purchasing an additional 19,674 shares during the last quarter. South Dakota Investment Council acquired a new position in Berry Global Group in the fourth quarter valued at about $2,508,000. Finally, AQR Capital Management LLC grew 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 valued at $62,230,000 after purchasing an additional 22,137 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Buying and Selling at Berry Global Group

In related news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total transaction of $67,404.22. Following the sale, the chief financial officer now owns 119,384 shares in the company, valued at approximately $7,197,661.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Berry Global Group news, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares of the company’s stock, valued at approximately $7,197,661.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter T. Thomas purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $59.50 per share, with a total value of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares in the company, valued at approximately $262,216.50. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird restated a “neutral” rating and issued a $65.00 price target (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 price objective (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Wolfe Research started coverage on shares of Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Bank of America increased their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Berry Global Group Price Performance

Shares of BERY traded up $0.10 during midday trading on Wednesday, hitting $60.56. The company’s stock had a trading volume of 756,914 shares, compared to its average volume of 1,124,244. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64. Berry Global Group, Inc. has a one year low of $53.92 and a one year high of $69.93. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.26 and a beta of 1.19. The company’s fifty day simple moving average is $59.27 and its two-hundred day simple moving average is $61.37.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, May 9th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.05. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.96 earnings per share. As a group, equities analysts expect that Berry Global Group, Inc. will post 7.43 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.82%. The ex-dividend date was Monday, June 3rd. Berry Global Group’s payout ratio is 26.13%.

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.