Raymond James Financial Inc. Takes $8.35 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Raymond James Financial Inc. bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 129,154 shares of the industrial products company's stock, valued at approximately $8,352,000. Raymond James Financial Inc. owned approximately 0.11% of Berry Global Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BERY. Geode Capital Management LLC boosted its holdings in shares of Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock valued at $134,806,000 after buying an additional 27,437 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Berry Global Group by 13.4% in 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 acquiring an additional 8,622 shares during the last quarter. Hancock Whitney Corp acquired a new position in shares of Berry Global Group during the 3rd quarter worth about $1,065,000. Barclays PLC raised its holdings in shares of Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock valued at $6,931,000 after purchasing an additional 47,476 shares during the period. Finally, Goldentree Asset Management LP bought a new position in Berry Global Group during the third quarter worth about $24,288,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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Berry Global Group Stock Performance

Shares of NYSE:BERY traded up $1.27 on Wednesday, reaching $69.25. 1,694,613 shares of the company's stock were exchanged, compared to its average volume of 1,189,449. Berry Global Group, Inc. has a twelve month low of $55.24 and a twelve month high of $74.24. The company has a fifty day moving average of $70.07 and a 200-day moving average of $68.56. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.54 and a beta of 1.13. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business posted $1.22 earnings per share. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

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 $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Monday, March 3rd. Berry Global Group's payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several brokerages have issued reports on BERY. StockNews.com started coverage on Berry Global Group in a report on Tuesday. They set a "buy" rating for the company. Truist Financial raised their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. Barclays lifted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 27th. Finally, UBS Group increased their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $74.56.

About Berry Global Group

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.