SVB Wealth LLC Invests $236,000 in Berry Global Group, Inc. (NYSE:BERY)

SVB Wealth LLC purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,649 shares of the industrial products company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Greenleaf Trust grew its stake in shares of Berry Global Group by 3.5% during the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 149 shares during the period. CIBC Asset Management Inc grew its stake in shares of Berry Global Group by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 170 shares during the period. M&T Bank Corp grew its stake in shares of Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 173 shares during the period. Creative Planning grew its stake in shares of Berry Global Group by 3.0% during the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 198 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BERY. StockNews.com initiated coverage on shares of Berry Global Group in a research note on Saturday, March 1st. They set a “buy” rating on the stock. Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Barclays increased their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. UBS Group increased their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Truist Financial increased their price objective on shares of 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Price Performance

NYSE:BERY opened at $71.49 on Thursday. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The company’s 50-day moving average is $68.49 and its two-hundred day moving average is $68.19. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $73.75.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company 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 firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 EPS. Research analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.73%. Berry Global Group’s payout ratio is currently 30.92%.

Berry Global Group 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.