Massachusetts Financial Services Co. MA lowered its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,301,321 shares of the industrial products company's stock after selling 566,112 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.99% of Berry Global Group worth $148,826,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC increased its position in shares of Berry Global Group by 277.9% in the fourth quarter. Headlands Technologies LLC now owns 2,793 shares of the industrial products company's stock valued at $181,000 after acquiring an additional 2,054 shares during the period. Geode Capital Management LLC increased its holdings in Berry Global Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company's stock valued at $128,691,000 after purchasing an additional 6,833 shares during the period. Diametric Capital LP bought a new position in Berry Global Group during the 4th quarter valued at approximately $673,000. National Bank of Canada FI lifted its holdings in Berry Global Group by 10.1% in the 4th quarter. National Bank of Canada FI now owns 29,130 shares of the industrial products company's stock worth $1,884,000 after buying an additional 2,667 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Berry Global Group by 8.2% in the 4th quarter. Franklin Resources Inc. now owns 339,058 shares of the industrial products company's stock worth $21,927,000 after buying an additional 25,729 shares during the last quarter. Institutional investors own 95.36% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on BERY. Truist Financial increased their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. StockNews.com started coverage on Berry Global Group in a research note on Thursday. They issued a "buy" rating for the company. Finally, UBS Group upped their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $74.56.
Check Out Our Latest Report on BERY
Berry Global Group Stock Performance
Shares of BERY traded down $1.31 on Thursday, reaching $63.69. The company's stock had a trading volume of 751,389 shares, compared to its average volume of 1,269,623. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $74.24. The stock has a market capitalization of $7.38 billion, a P/E ratio of 15.85, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The stock's 50 day simple moving average is $69.80 and its two-hundred day simple moving average is $68.57.
Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company posted $1.22 EPS. The company's revenue was up 2.2% compared to the same quarter last year. Research analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.
Berry Global Group Dividend Announcement
The business also recently disclosed 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 1.95%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio (DPR) is currently 30.92%.
About Berry Global Group
(
Free Report)
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.
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