Cohen Capital Management Inc. Sells 500 Shares of Berry Global Group, Inc. (NYSE:BERY)

Cohen Capital Management Inc. lowered its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,423 shares of the industrial products company’s stock after selling 500 shares during the period. Berry Global Group makes up 1.1% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding. Cohen Capital Management Inc. owned about 0.08% of Berry Global Group worth $6,026,000 as of its most recent SEC filing.

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

Insider Activity

In related news, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $56.00 per share, with a total value of $112,000.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Berry Global Group news, Director Peter T. Thomas purchased 2,000 shares of Berry Global Group stock in a transaction on Thursday, February 8th. The stock was bought at an average cost 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan F. Foster purchased 1,000 shares of Berry Global Group stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $58.49 per share, with a total value 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 disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have 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 report on Monday, February 12th. Wolfe Research started coverage on shares of Berry Global Group in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Mizuho dropped 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. Finally, UBS Group upped their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Seven 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 company has a consensus rating of “Hold” and a consensus price target of $72.00.

Berry Global Group Trading Up 0.5 %

BERY stock traded up $0.26 during trading on Monday, hitting $56.82. The company had a trading volume of 601,814 shares, compared to its average volume of 1,161,106. The firm has a market capitalization of $6.59 billion, a P/E ratio of 12.22, a PEG ratio of 0.77 and a beta of 1.25. Berry Global Group, Inc. has a 52-week low of $53.83 and a 52-week high of $69.93. The company has a 50 day simple moving average of $58.87 and a 200-day simple moving average of $61.45. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERY) last issued 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). 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 for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the company earned $1.30 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. As a group, research analysts forecast that Berry Global Group, Inc. will post 7.38 earnings per share for the current fiscal 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 issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio is currently 23.66%.

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.