Berry Global Group, Inc. (NYSE:BERY) Position Reduced by Blue Trust Inc.

Blue Trust Inc. cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,065 shares of the industrial products company’s stock after selling 764 shares during the quarter. Blue Trust Inc.’s holdings in Berry Global Group were worth $198,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BERY. FMR LLC lifted its position in shares of Berry Global Group by 38.4% in the third 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 in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Berry Global Group in the fourth quarter worth approximately $35,568,000. State Street Corp lifted 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 purchasing an additional 360,857 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Berry Global Group in the third quarter worth approximately $24,288,000. Finally, EdgePoint Investment Group Inc. lifted its position 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 worth $1,038,674,000 after purchasing an additional 336,186 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Berry Global Group Trading Up 0.4 %

Shares of BERY stock opened at $71.51 on Thursday. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $73.31. The firm’s fifty day simple moving average is $67.43 and its 200 day simple moving average is $67.62. The firm has a market capitalization of $8.28 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.51 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last announced its 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. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. As a group, sell-side analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current 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 issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) 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.