Coombe Bender & Co LLC Purchases 1,023 Shares of Berry Global Group, Inc. (NYSE:BERY)

Coombe Bender & Co LLC raised its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,248 shares of the industrial products company’s stock after acquiring an additional 1,023 shares during the period. Coombe Bender & Co LLC’s holdings in Berry Global Group were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in Berry Global Group during the fourth quarter valued at $31,000. First Horizon Advisors Inc. boosted its stake in shares of Berry Global Group by 69.6% during the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 224 shares during the period. Blue Trust Inc. boosted its stake in shares of Berry Global Group by 203.7% during the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 436 shares during the period. CWM LLC lifted its stake in Berry Global Group by 200.0% in the fourth quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 1,050 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Berry Global Group in the third quarter worth about $101,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Up 0.8 %

Shares of BERY traded up $0.46 during midday trading on Thursday, hitting $58.25. The company had a trading volume of 220,924 shares, compared to its average volume of 1,107,461. The company’s 50-day simple moving average is $58.63 and its 200-day simple moving average is $61.44. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The firm has a market capitalization of $6.75 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.77 and a beta of 1.24. Berry Global Group, Inc. has a 1 year low of $53.83 and a 1 year high of $69.93.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share 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 analysts’ expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. Berry Global Group’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. As a group, sell-side analysts expect that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $56.00 per share, with a total value of $112,000.00. Following the completion of the acquisition, the director now owns 2,000 shares in the company, valued at $112,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Peter T. Thomas purchased 2,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was acquired 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 directly owns 2,000 shares in the company, valued at approximately $112,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction dated 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 $335,030.72. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BERY. Royal Bank of Canada reiterated a “sector perform” rating and issued a $62.00 target price (down from $72.00) on shares of Berry Global Group in a report on Friday, March 15th. Wolfe Research initiated coverage on shares of Berry Global Group in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Mizuho cut their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. TheStreet downgraded shares of Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Finally, Truist Financial reiterated a “hold” rating and issued a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $72.00.

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.