Skandinaviska Enskilda Banken AB publ purchased a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,500 shares of the industrial products company's stock, valued at approximately $1,444,000.
Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Berry Global Group by 36.3% in the third quarter. Victory Capital Management Inc. now owns 95,281 shares of the industrial products company's stock valued at $6,477,000 after acquiring an additional 25,382 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Berry Global Group during the 3rd quarter valued at $229,000. Quest Partners LLC raised its stake in shares of Berry Global Group by 1,478.0% during the 3rd quarter. Quest Partners LLC now owns 8,663 shares of the industrial products company's stock worth $589,000 after purchasing an additional 8,114 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Berry Global Group during the third quarter valued at about $206,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Berry Global Group during the third quarter worth about $374,000. 95.36% of the stock is currently owned by institutional investors.
Berry Global Group Price Performance
Berry Global Group stock traded down $2.05 during midday trading on Friday, hitting $68.13. 2,117,919 shares of the company's stock were exchanged, compared to its average volume of 1,180,658. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The stock has a 50-day moving average price of $69.93 and a two-hundred day moving average price of $68.54. The company has a market cap of $7.89 billion, a P/E ratio of 16.99, a PEG 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 posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business's 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, equities research analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.
Berry Global Group Announces Dividend
The company 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 dividend yield of 1.82%. Berry Global Group's dividend payout ratio is presently 30.92%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on BERY. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group increased their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Citigroup restated a "neutral" rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com started coverage on Berry Global Group in a research note on Monday. They set 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 company a "hold" rating in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $74.56.
Check Out Our Latest Research Report on Berry Global Group
About Berry Global Group
(
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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