Rhumbline Advisers Grows Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Rhumbline Advisers raised its stake in Berry Global Group, Inc. (NYSE:BERY) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 329,403 shares of the industrial products company’s stock after buying an additional 2,171 shares during the period. Rhumbline Advisers owned about 0.28% of Berry Global Group worth $21,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the period. Calamos Advisors LLC bought a new position in shares of Berry Global Group during the 4th quarter worth approximately $35,568,000. State Street Corp raised its stake in shares of Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares in the last quarter. Goldentree Asset Management LP bought a new position in shares of Berry Global Group during the 3rd quarter worth approximately $24,288,000. Finally, EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after acquiring an additional 336,186 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Trading Up 1.7 %

NYSE BERY opened at $72.70 on Friday. The firm has a 50 day simple moving average of $67.51 and a 200-day simple moving average of $67.66. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $73.31. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.53 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.31 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.71%. Berry Global Group’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several analysts have recently commented on BERY shares. Royal Bank of Canada upped their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. UBS Group increased 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 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial raised their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, Barclays raised their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Company 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.