Decagon Asset Management LLP Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Decagon Asset Management LLP bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 138,022 shares of the industrial products company's stock, valued at approximately $8,926,000. Berry Global Group accounts for approximately 3.3% of Decagon Asset Management LLP's investment portfolio, making the stock its 13th largest position. Decagon Asset Management LLP owned about 0.12% of Berry Global Group as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Greenleaf Trust increased its holdings in shares of Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock valued at $285,000 after purchasing an additional 149 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Berry Global Group by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company's stock valued at $229,000 after purchasing an additional 170 shares during the period. M&T Bank Corp increased its holdings in shares of Berry Global Group by 3.1% in 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. Commonwealth Equity Services LLC grew its stake in shares of Berry Global Group by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company's stock valued at $649,000 after buying an additional 241 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after buying an additional 306 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

Remove Ads

Berry Global Group Stock Performance

Berry Global Group stock traded down $2.05 during trading hours on Friday, reaching $68.13. 2,117,919 shares of the company were exchanged, compared to its average volume of 1,181,606. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.54 and a beta of 1.13. 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 50-day moving average of $69.98 and a 200 day moving average of $68.54. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the business earned $1.22 earnings per share. Berry Global Group's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. Berry Global Group's dividend payout ratio is 30.92%.

Analysts Set New Price Targets

BERY has been the subject of several recent research reports. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group boosted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Truist Financial boosted their price target on Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Barclays boosted their price target on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Finally, StockNews.com initiated coverage on Berry Global Group in a research note on Monday, March 17th. They issued a "buy" rating for the company. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $74.56.

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.