HighTower Advisors LLC Acquires 1,177 Shares of Berry Global Group, Inc. (NYSE:BERY)

HighTower Advisors LLC lifted its holdings in Berry Global Group, Inc. (NYSE:BERY) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,806 shares of the industrial products company’s stock after acquiring an additional 1,177 shares during the quarter. HighTower Advisors LLC’s holdings in Berry Global Group were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. boosted its position in shares of Berry Global Group by 2.2% in 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 purchasing an additional 336,186 shares during the last quarter. State Street Corp boosted its holdings in shares of Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after buying an additional 360,857 shares during the last quarter. FMR LLC lifted its stake in 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 valued at $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after purchasing an additional 27,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Berry Global Group by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock valued at $54,771,000 after acquiring an additional 11,010 shares during the period. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of NYSE:BERY opened at $69.91 on Tuesday. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The stock’s fifty day simple moving average is $70.24 and its two-hundred day simple moving average is $68.67. The stock has a market cap of $8.10 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

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 the consensus estimate 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 analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.22 EPS. Berry Global Group’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BERY. Truist Financial raised their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. UBS Group raised their price objective 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. Finally, StockNews.com started coverage on Berry Global Group in a research note on Tuesday, March 25th. They issued a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and an average target price 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.