SVB Wealth LLC Acquires New Stake in Berry Global Group, Inc. (NYSE:BERY)

SVB Wealth LLC acquired a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,649 shares of the industrial products company's stock, valued at approximately $236,000.

Several other hedge funds have also recently added to or reduced their stakes in BERY. Creative Planning raised its holdings in Berry Global Group by 3.0% in the third quarter. Creative Planning now owns 6,827 shares of the industrial products company's stock valued at $464,000 after acquiring an additional 198 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Berry Global Group by 95.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,280 shares of the industrial products company's stock valued at $1,039,000 after acquiring an additional 7,447 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Berry Global Group by 4.5% in the third quarter. New York State Teachers Retirement System now owns 79,849 shares of the industrial products company's stock valued at $5,428,000 after acquiring an additional 3,440 shares in the last quarter. US Bancorp DE raised its holdings in Berry Global Group by 9.1% in the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 311 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Berry Global Group by 14.7% in the third quarter. QRG Capital Management Inc. now owns 8,979 shares of the industrial products company's stock valued at $610,000 after acquiring an additional 1,151 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

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Berry Global Group Stock Performance

Shares of BERY traded up $1.54 during mid-day trading on Friday, reaching $73.11. 1,897,179 shares of the company's stock were exchanged, compared to its average volume of 1,175,042. 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 capitalization of $8.47 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The business's fifty day simple moving average is $68.91 and its 200-day simple moving average is $68.30. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $73.75.

Berry Global Group (NYSE:BERY - Get Free Report) last announced its 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. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. On average, equities research analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.70%. Berry Global Group's dividend payout ratio (DPR) is presently 30.92%.

Analysts Set New Price Targets

BERY has been the topic of several analyst reports. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Truist Financial raised their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada raised their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a report on Thursday, November 21st. Finally, Barclays raised their price objective 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. Seven equities research 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, Berry Global Group presently has a consensus rating of "Hold" and an average 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.