Canada Pension Plan Investment Board Acquires New Holdings in Berry Global Group, Inc. (NYSE:BERY)

Canada Pension Plan Investment Board bought a new position in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,600 shares of the industrial products company's stock, valued at approximately $1,462,000.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC increased its position in shares of Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company's stock valued at $4,715,000 after acquiring an additional 8,622 shares during the period. Barclays PLC raised its holdings in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock worth $6,931,000 after purchasing an additional 47,476 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Berry Global Group by 3,569.6% in the 4th 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 during the period. SG Americas Securities LLC boosted its stake in shares of Berry Global Group by 333.1% during the 4th quarter. SG Americas Securities LLC now owns 9,697 shares of the industrial products company's stock valued at $627,000 after purchasing an additional 7,458 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Berry Global Group by 71.0% during the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company's stock valued at $2,129,000 after buying an additional 13,004 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Stock Down 1.3 %

Shares of BERY traded down $0.90 during trading hours on Friday, hitting $68.89. The company had a trading volume of 1,480,551 shares, compared to its average volume of 1,312,202. Berry Global Group, Inc. has a 52-week low of $56.60 and a 52-week high of $74.24. The firm has a fifty day moving average price of $69.24 and a 200-day moving average price of $68.60. The stock 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. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61.

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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business's revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, equities research analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

Several research firms have weighed in on BERY. Truist Financial cut their price objective on Berry Global Group from $76.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com initiated coverage on Berry Global Group in a research note on Saturday. They issued a "buy" rating on the stock. Finally, UBS Group raised their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $75.13.

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.