New York State Common Retirement Fund Cuts Stake in Berry Global Group, Inc. (NYSE:BERY)

New York State Common Retirement Fund lessened its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,587 shares of the industrial products company's stock after selling 4,110 shares during the quarter. New York State Common Retirement Fund's holdings in Berry Global Group were worth $3,271,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BERY. Geode Capital Management LLC grew its holdings in shares of Berry Global Group by 1.4% in 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 acquiring an additional 27,437 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Berry Global Group by 13.4% during the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company's stock valued at $4,715,000 after purchasing an additional 8,622 shares during the last quarter. Hancock Whitney Corp bought a new position in Berry Global Group in the 3rd quarter worth approximately $1,065,000. Integrated Investment Consultants LLC bought a new position in shares of Berry Global Group in the third quarter worth $714,000. Finally, Barclays PLC increased its position in shares of 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 buying an additional 47,476 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BERY. UBS Group lifted their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Truist Financial upped their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. StockNews.com initiated coverage on Berry Global Group in a research report on Saturday. They set a "buy" rating on the stock. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Berry Global Group presently has an average rating of "Hold" and an average target price of $74.56.

Berry Global Group Price Performance

Shares of Berry Global Group stock traded down $0.18 during trading hours on Tuesday, reaching $71.66. The company's stock had a trading volume of 1,949,434 shares, compared to its average volume of 1,164,067. The stock has a market cap of $8.30 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $73.75. 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 firm has a 50 day moving average price of $68.38 and a 200-day moving average price of $68.15.

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 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 earnings per share. On average, analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group's dividend payout ratio is currently 30.92%.

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.