New York Life Investment Management LLC Purchases New Position in Berry Global Group, Inc. (NYSE:BERY)

New York Life Investment Management LLC purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 125,213 shares of the industrial products company's stock, valued at approximately $8,098,000. New York Life Investment Management LLC owned 0.11% of Berry Global Group as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. EdgePoint Investment Group Inc. increased its position in shares of Berry Global Group by 2.2% during the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company's stock valued at $1,038,674,000 after buying an additional 336,186 shares during the period. State Street Corp increased its position in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company's stock worth $260,487,000 after purchasing an additional 360,857 shares during the last quarter. FMR LLC raised its stake in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock valued at $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $134,806,000 after purchasing an additional 27,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Berry Global Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 835,915 shares of the industrial products company's stock worth $56,826,000 after buying an additional 18,736 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BERY. Barclays raised their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Truist Financial raised their price target on Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research report on Monday, February 10th. StockNews.com assumed coverage on Berry Global Group in a report on Saturday. They issued a "buy" rating for the company. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Royal Bank of Canada boosted their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 21st. Seven 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.com, the company has a consensus rating of "Hold" and an average price target of $74.56.

Berry Global Group Trading Down 0.1 %

BERY stock traded down $0.10 during trading on Monday, hitting $71.76. 3,685,095 shares of the company traded hands, compared to its average volume of 1,160,927. The company has a 50-day moving average of $68.24 and a 200-day moving average of $68.10. 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, Inc. has a 1 year low of $55.24 and a 1 year high of $73.79. The firm has a market capitalization of $8.31 billion, a PE ratio of 17.90, a P/E/G ratio of 1.54 and a beta of 1.15.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. The company 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 firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. Analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. Berry Global Group's dividend payout ratio 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.