Berry Global Group, Inc. (NYSE:BERY) Stock Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,026,443 shares of the industrial products company's stock after selling 87,165 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Berry Global Group worth $66,380,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Creative Planning boosted its stake in Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock worth $464,000 after buying an additional 198 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Berry Global Group by 95.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,280 shares of the industrial products company's stock worth $1,039,000 after buying an additional 7,447 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Berry Global Group by 4.5% in the third quarter. New York State Teachers Retirement System now owns 79,849 shares of the industrial products company's stock valued at $5,428,000 after purchasing an additional 3,440 shares in the last quarter. US Bancorp DE increased its stake in Berry Global Group by 9.1% in the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company's stock valued at $253,000 after purchasing an additional 311 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Berry Global Group by 14.7% in the 3rd quarter. QRG Capital Management Inc. now owns 8,979 shares of the industrial products company's stock valued at $610,000 after buying an additional 1,151 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Berry Global Group Stock Performance

BERY stock traded up $1.45 during trading on Friday, hitting $73.02. 769,798 shares of the company's stock traded hands, compared to its average volume of 1,175,802. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The stock has a fifty day moving average price of $68.75 and a two-hundred day moving average price of $68.24. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $73.75. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY - Get Free Report) last announced its quarterly 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.70%. Berry Global Group's dividend payout ratio (DPR) is 30.92%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Berry Global Group in a research note on Saturday, March 1st. They issued a "buy" rating for the company. Citigroup reiterated a "neutral" rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial increased their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a report on Monday, February 10th. UBS Group increased their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $74.56.

About Berry Global Group

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.