Norges Bank Takes $91.53 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Norges Bank bought a new position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,415,274 shares of the industrial products company's stock, valued at approximately $91,526,000. Norges Bank owned about 1.22% of Berry Global Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. grew its position in shares of Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock valued at $55,000 after buying an additional 821 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock worth $69,000 after acquiring an additional 876 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Berry Global Group by 25,814.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company's stock worth $117,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Berry Global Group during the 4th quarter valued at approximately $200,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

BERY has been the topic of several research reports. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. StockNews.com assumed coverage on shares of Berry Global Group in a report on Wednesday, April 2nd. They issued a "buy" rating for the company. Finally, Truist Financial boosted their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a research note 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $74.56.

Berry Global Group Trading Down 3.5 %

Shares of BERY traded down $2.31 during mid-day trading on Monday, reaching $64.09. 2,727,491 shares of the company's stock traded hands, compared to its average volume of 1,253,308. The stock's 50-day moving average is $70.21 and its two-hundred day moving average is $68.70. 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 has a market cap of $7.42 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24.

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 analysts' consensus estimates 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 the consensus estimate of $2.35 billion. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. Research analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio is 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.