Franklin Resources Inc. Buys 25,729 Shares of Berry Global Group, Inc. (NYSE:BERY)

Franklin Resources Inc. grew its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,058 shares of the industrial products company's stock after buying an additional 25,729 shares during the quarter. Franklin Resources Inc. owned approximately 0.29% of Berry Global Group worth $21,927,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Berry Global Group by 5.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 68,265 shares of the industrial products company's stock valued at $4,415,000 after buying an additional 3,326 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Berry Global Group by 6.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,680 shares of the industrial products company's stock worth $1,014,000 after acquiring an additional 933 shares in the last quarter. Boussard & Gavaudan Investment Management LLP bought a new stake in Berry Global Group during the fourth quarter worth $3,544,000. Norges Bank acquired a new stake in Berry Global Group in the fourth quarter valued at $91,526,000. Finally, JPMorgan Chase & Co. grew its position in shares of Berry Global Group by 41.7% in the 4th quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company's stock valued at $39,175,000 after acquiring an additional 178,287 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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Berry Global Group Stock Performance

Shares of NYSE BERY traded up $2.62 during trading hours on Friday, reaching $67.12. 2,656,284 shares of the stock were exchanged, compared to its average volume of 1,286,835. The stock's fifty day simple moving average is $69.69 and its 200 day simple moving average is $68.53. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24. 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 posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The company's revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.85%. Berry Global Group's payout ratio is presently 30.92%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BERY. StockNews.com initiated coverage on shares of Berry Global Group in a report on Thursday. They issued a "buy" rating on the stock. 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. Finally, Truist Financial boosted their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.