LPL Financial LLC lifted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY – Free Report) by 52.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,108 shares of the industrial products company’s stock after acquiring an additional 12,780 shares during the quarter. LPL Financial LLC’s holdings in Berry Global Group were worth $2,400,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of BERY. Magnetar Financial LLC bought a new position in Berry Global Group in the 4th quarter worth about $71,882,000. Alpine Associates Management Inc. bought a new position in shares of Berry Global Group during the 4th quarter valued at approximately $38,323,000. Calamos Advisors LLC bought a new position in Berry Global Group in the 4th quarter worth $35,568,000. Alberta Investment Management Corp grew its holdings in Berry Global Group by 1,672.5% during the 4th quarter. Alberta Investment Management Corp now owns 303,100 shares of the industrial products company’s stock valued at $19,601,000 after buying an additional 286,000 shares in the last quarter. Finally, Silphium Asset Management Ltd purchased a new position in shares of Berry Global Group during the fourth quarter valued at about $9,556,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Truist Financial lifted their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. StockNews.com started coverage on Berry Global Group in a research note on Thursday. They set a “buy” rating on the stock. Finally, UBS Group raised their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $74.56.
Check Out Our Latest Stock Report on Berry Global Group
Berry Global Group Stock Performance
NYSE BERY opened at $67.12 on Monday. The stock has a 50-day moving average of $69.69 and a two-hundred day moving average of $68.53. The company has a market cap of $7.77 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24.
Berry Global Group (NYSE:BERY – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned $1.22 earnings per share. Berry Global Group’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.
Berry Global Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.85%. Berry Global Group’s payout ratio is currently 30.92%.
About Berry Global Group
(Free Report)
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.
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