New York State Common Retirement Fund Cuts Position in Berry Global Group, Inc. (NYSE:BERY)

New York State Common Retirement Fund reduced its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,587 shares of the industrial products company’s stock after selling 4,110 shares during the quarter. New York State Common Retirement Fund’s holdings in Berry Global Group were worth $3,271,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. FMR LLC boosted its position in Berry Global Group by 38.4% during 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 acquired a new position in shares of Berry Global Group during the fourth quarter worth about $35,568,000. State Street Corp boosted its position in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after buying an additional 360,857 shares during the period. Goldentree Asset Management LP acquired a new stake in shares of Berry Global Group in the third quarter valued at about $24,288,000. Finally, EdgePoint Investment Group Inc. grew its stake in shares of Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after buying an additional 336,186 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Barclays upped their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Finally, Truist Financial raised their target price on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $72.15 on Friday. 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 1 year low of $55.24 and a 1 year high of $73.31. The firm’s 50-day simple moving average is $68.08 and its 200-day simple moving average is $67.96. The firm has a market cap of $8.35 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.54 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 the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. Berry Global Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Equities analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 1.72%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is presently 30.92%.

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.