Calamos Advisors LLC Buys Shares of 550,000 Berry Global Group, Inc. (NYSE:BERY)

Calamos Advisors LLC acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 550,000 shares of the industrial products company's stock, valued at approximately $35,568,000. Calamos Advisors LLC owned about 0.48% of Berry Global Group as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BERY. Greenleaf Trust boosted its holdings in Berry Global Group by 3.5% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock valued at $285,000 after acquiring an additional 149 shares during the last quarter. M&T Bank Corp lifted its position in Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company's stock valued at $396,000 after purchasing an additional 173 shares during the period. Creative Planning boosted its stake in shares of Berry Global Group by 3.0% in the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock valued at $464,000 after purchasing an additional 198 shares during the last quarter. UMB Bank n.a. grew its position in shares of Berry Global Group by 89.0% during the 4th 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. Finally, US Bancorp DE raised its stake in shares of Berry Global Group by 9.1% during the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company's stock worth $253,000 after buying an additional 311 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

NYSE BERY traded down $0.06 during trading on Friday, reaching $69.94. 1,023,687 shares of the company's stock were exchanged, compared to its average volume of 1,390,287. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The business has a 50 day moving average price of $67.43 and a 200-day moving average price of $67.22. The stock has a market capitalization of $8.09 billion, a P/E ratio of 15.93, a PEG ratio of 1.45 and a beta of 1.15. Berry Global Group, Inc. has a fifty-two week low of $55.01 and a fifty-two week high of $73.31.

Berry Global Group (NYSE:BERY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. Berry Global Group had a net margin of 4.21% and a return on equity of 26.32%. The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business posted $1.22 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Berry Global Group, Inc. will post 6.31 earnings per share 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. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group's dividend payout ratio is currently 28.25%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank of Canada increased their target price on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research note on Thursday, November 21st. 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. Citigroup restated a "neutral" rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial increased their target price on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Finally, StockNews.com initiated coverage on shares of Berry Global Group in a report on Wednesday. They issued a "buy" rating for the company. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $73.40.

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.