Gabelli Funds LLC Invests $4.16 Million in Berry Global Group, Inc. (NYSE:BERY)

Gabelli Funds LLC acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,300 shares of the industrial products company's stock, valued at approximately $4,158,000. Gabelli Funds LLC owned about 0.06% of Berry Global Group as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased 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 purchasing an additional 6,833 shares during the period. Norges Bank bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $91,526,000. Magnetar Financial LLC bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $71,882,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Berry Global Group by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company's stock worth $54,771,000 after purchasing an additional 11,010 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Berry Global Group by 41.7% during the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company's stock worth $39,175,000 after purchasing an additional 178,287 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BERY shares. StockNews.com started coverage on shares of Berry Global Group in a research note on Friday, April 18th. They issued a "buy" rating on the stock. UBS Group lifted their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Truist Financial decreased their price objective on shares of Berry Global Group from $76.00 to $71.00 and set a "hold" rating on the stock in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has an average rating of "Hold" and a consensus price target of $75.13.

Berry Global Group Price Performance

Berry Global Group stock traded down $0.19 during mid-day trading on Wednesday, reaching $68.75. The company had a trading volume of 224,097 shares, compared to its average volume of 1,296,546. Berry Global Group, Inc. has a fifty-two week low of $55.68 and a fifty-two week 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 company has a market cap of $7.96 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.54 and a beta of 1.14. The business has a fifty day simple moving average of $69.33 and a 200 day simple moving average of $68.55.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.22 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current 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 issued a dividend of $0.31 per share. 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 (DPR) 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.