Raymond James Financial Inc. purchased a new position in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 129,154 shares of the industrial products company's stock, valued at approximately $8,352,000. Raymond James Financial Inc. owned about 0.11% of Berry Global Group as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. FMR LLC boosted 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 worth $258,821,000 after buying an additional 1,055,756 shares during the last quarter. Calamos Advisors LLC bought a new position in Berry Global Group during the 4th quarter worth approximately $35,568,000. State Street Corp boosted its stake in Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company's stock worth $260,487,000 after acquiring an additional 360,857 shares during the last quarter. Goldentree Asset Management LP acquired a new position in Berry Global Group during the third quarter valued at approximately $24,288,000. Finally, EdgePoint Investment Group Inc. increased its stake in Berry Global Group by 2.2% in 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 in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
BERY has been the subject of several research analyst reports. Citigroup reissued a "neutral" rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. UBS Group boosted their target price on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. StockNews.com assumed coverage on Berry Global Group in a research report on Tuesday. They set a "buy" rating on the stock. Truist Financial boosted their price objective 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. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $74.56.
Check Out Our Latest Stock Analysis on BERY
Berry Global Group Stock Down 1.3 %
Shares of BERY traded down $0.88 during mid-day trading on Tuesday, hitting $67.97. 2,434,689 shares of the company's stock were exchanged, compared to its average volume of 1,184,314. The company has a 50-day simple moving average of $70.07 and a 200 day simple moving average of $68.56. 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 company has a market cap of $7.87 billion, a PE ratio of 16.95, a P/E/G ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24.
Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, 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 business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.31 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.82%. Berry Global Group's dividend payout ratio (DPR) is presently 30.92%.
Berry Global Group Profile
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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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