Truist Financial Corp Has $297,000 Holdings in Berry Global Group, Inc. (NYSE:BERY)

Truist Financial Corp lifted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,593 shares of the industrial products company’s stock after buying an additional 815 shares during the quarter. Truist Financial Corp’s holdings in Berry Global Group were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc boosted its stake in Berry Global Group by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 170 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Berry Global Group by 0.7% in the 4th quarter. Rhumbline Advisers now owns 329,403 shares of the industrial products company’s stock worth $21,302,000 after purchasing an additional 2,171 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Berry Global Group by 15.4% during the fourth quarter. New York State Teachers Retirement System now owns 92,145 shares of the industrial products company’s stock worth $5,959,000 after purchasing an additional 12,296 shares during the period. Summit Trail Advisors LLC bought a new stake in Berry Global Group in the fourth quarter valued at about $221,000. Finally, Savant Capital LLC lifted its stake in Berry Global Group by 1.4% in the fourth quarter. Savant Capital LLC now owns 27,083 shares of the industrial products company’s stock valued at $1,751,000 after buying an additional 370 shares during the period. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Up 1.2 %

BERY stock opened at $71.49 on Thursday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The stock has a market capitalization of $8.28 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $73.75. The business has a 50-day moving average of $68.49 and a 200-day moving average of $68.19.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 1.73%. Berry Global Group’s payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

BERY has been the subject of several analyst reports. UBS Group boosted their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Citigroup restated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Barclays increased their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, 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 research report on Thursday, November 21st. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s 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.

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.