Raymond James Financial Inc. Invests $8.35 Million in Berry Global Group, Inc. (NYSE:BERY)

Raymond James Financial Inc. bought a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 129,154 shares of the industrial products company’s stock, valued at approximately $8,352,000. Raymond James Financial Inc. owned 0.11% of Berry Global Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares in the last quarter. Townsquare Capital LLC purchased a new position in Berry Global Group during the third quarter worth about $201,000. Finally, Merit Financial Group LLC purchased a new position in Berry Global Group during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BERY shares. StockNews.com started coverage on shares of Berry Global Group in a report on Monday, March 17th. They set a “buy” rating for the company. Barclays increased their price target 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. Truist Financial increased their price target 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. Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Finally, UBS Group increased their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Down 2.9 %

Shares of Berry Global Group stock opened at $68.13 on Friday. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month 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 has a market cap of $7.89 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a 50-day moving average of $69.98 and a two-hundred day moving average of $68.54.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 earnings per share. On average, research analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. Berry Global Group’s dividend payout ratio is presently 30.92%.

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.