Janney Montgomery Scott LLC Grows Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Janney Montgomery Scott LLC lifted its stake in Berry Global Group, Inc. (NYSE:BERY) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,021 shares of the industrial products company’s stock after buying an additional 424 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Berry Global Group were worth $325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after purchasing an additional 27,437 shares in the last quarter. Hancock Whitney Corp purchased a new position in shares of Berry Global Group during the 3rd quarter valued at approximately $1,065,000. Integrated Investment Consultants LLC purchased a new position in shares of Berry Global Group during the 3rd quarter valued at approximately $714,000. Allspring Global Investments Holdings LLC grew its stake in Berry Global Group by 4.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock valued at $56,786,000 after acquiring an additional 37,242 shares during the period. Finally, Barclays PLC increased its holdings in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after acquiring an additional 47,476 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Down 0.0 %

Shares of NYSE:BERY opened at $69.99 on Wednesday. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $73.31. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The business has a fifty day moving average of $67.32 and a two-hundred day moving average of $67.40. The stock has a market cap of $8.10 billion, a P/E ratio of 17.45, a PEG ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) 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 analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Berry Global Group’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Berry Global Group, Inc. will post 6.3 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

BERY has been the topic of several research analyst reports. UBS Group lifted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial increased their target price on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday. Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.56.

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.