Forum Financial Management LP Acquires Shares of 4,007 Berry Global Group, Inc. (NYSE:BERY)

Forum Financial Management LP bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,007 shares of the industrial products company's stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Berry Global Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company's stock worth $128,691,000 after acquiring an additional 6,833 shares in the last quarter. Norges Bank acquired a new position in Berry Global Group in the fourth quarter worth approximately $91,526,000. Magnetar Financial LLC bought a new position in Berry Global Group during the fourth quarter valued at approximately $71,882,000. Charles Schwab Investment Management Inc. lifted its stake in Berry Global Group by 1.3% in the fourth 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 last quarter. Finally, JPMorgan Chase & Co. grew its position in Berry Global Group by 41.7% in the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company's stock worth $39,175,000 after acquiring an additional 178,287 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.

Analyst Ratings Changes

BERY has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Berry Global Group in a report on Friday, April 18th. They issued a "buy" rating for the company. Truist Financial decreased their target price on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, UBS Group lifted their target price 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $75.13.

Berry Global Group Price Performance

NYSE:BERY traded down $0.90 during mid-day trading on Friday, hitting $68.89. The company's stock had a trading volume of 1,480,551 shares, compared to its average volume of 1,308,376. 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 fifty day moving average of $69.24 and a 200-day moving average of $68.59. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a fifty-two week low of $56.60 and a fifty-two week high of $74.24.

Berry Global Group (NYSE:BERY - Get Free Report) 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 during the quarter, compared to analysts' expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. As a group, equities analysts forecast 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. Investors of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. Berry Global Group's dividend payout ratio is 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.