Erste Asset Management GmbH Takes $455,000 Position in Berry Global Group, Inc. (NYSE:BERY)

Erste Asset Management GmbH acquired a new stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,000 shares of the industrial products company's stock, valued at approximately $455,000.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock worth $134,806,000 after buying an additional 27,437 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Berry Global Group by 13.4% during the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company's stock worth $4,715,000 after purchasing an additional 8,622 shares during the last quarter. Hancock Whitney Corp bought a new stake in shares of Berry Global Group in the 3rd quarter worth approximately $1,065,000. Integrated Investment Consultants LLC purchased a new position in Berry Global Group in the third quarter valued at approximately $714,000. Finally, Barclays PLC grew its holdings in Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock valued at $6,931,000 after purchasing an additional 47,476 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BERY. Royal Bank of Canada raised their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. restated an "overweight" rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group upped their price target 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. Citigroup restated a "neutral" rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Finally, StockNews.com assumed coverage on shares of Berry Global Group in a report on Monday. They set a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $74.56.

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Berry Global Group Price Performance

BERY stock traded down $0.44 during midday trading on Wednesday, reaching $70.65. The company had a trading volume of 1,041,690 shares, compared to its average volume of 1,174,995. The firm has a 50-day moving average price of $69.76 and a 200-day moving average price of $68.52. The company has a market capitalization of $8.18 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $74.24. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09.

Berry Global Group (NYSE:BERY - Get Free Report) last released its quarterly 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. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. On average, research analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's dividend payout ratio (DPR) is presently 30.92%.

Berry Global Group 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.