NewEdge Wealth LLC Lowers Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

NewEdge Wealth LLC trimmed its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,664 shares of the industrial products company's stock after selling 9,819 shares during the period. NewEdge Wealth LLC owned 0.21% of Berry Global Group worth $15,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BERY. FMR LLC grew its holdings in Berry Global Group by 38.4% during 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 during the period. Calamos Advisors LLC bought a new position in Berry Global Group during the fourth quarter valued at $35,568,000. State Street Corp grew its holdings in Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company's stock valued at $260,487,000 after purchasing an additional 360,857 shares during the period. Goldentree Asset Management LP bought a new position in Berry Global Group during the third quarter valued at $24,288,000. Finally, EdgePoint Investment Group Inc. grew its holdings in 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 purchasing an additional 336,186 shares during the period. 95.36% of the stock is owned by institutional investors.

Berry Global Group Price Performance

Shares of BERY stock traded up $0.45 on Friday, reaching $72.15. The company's stock had a trading volume of 2,513,586 shares, compared to its average volume of 1,150,792. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $73.31. The company has a market capitalization of $8.35 billion, a P/E ratio of 17.99, a PEG ratio of 1.54 and a beta of 1.15. The stock's 50 day simple moving average is $68.24 and its 200-day simple moving average is $68.07.

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Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.22 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given 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 1.72%. Berry Global Group's payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BERY. StockNews.com started coverage on Berry Global Group in a report on Saturday. They set a "buy" rating for the company. UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Royal Bank of Canada increased 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. Finally, Citigroup restated a "neutral" rating and set a $76.00 target price on shares of Berry Global Group in a research report 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. Based on data from MarketBeat.com, Berry Global Group has an average rating of "Hold" and an average 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.