ING Groep NV Invests $5.18 Million in Berry Global Group, Inc. (NYSE:BERY)

ING Groep NV bought a new position in Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 80,100 shares of the industrial products company’s stock, valued at approximately $5,180,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its position 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 worth $134,806,000 after buying an additional 27,437 shares during the period. Sound Income Strategies LLC grew its position in shares of Berry Global Group by 13.4% in the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after buying an additional 8,622 shares during the period. Hancock Whitney Corp purchased a new stake in shares of Berry Global Group in the 3rd quarter worth about $1,065,000. Integrated Investment Consultants LLC purchased a new stake in shares of Berry Global Group in the 3rd quarter worth about $714,000. Finally, Barclays PLC grew its position in Berry Global Group by 87.1% during 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 last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $71.68 on Friday. The firm’s 50-day moving average price is $67.59 and its 200-day moving average price is $67.72. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The company has a market cap of $8.30 billion, a PE ratio of 17.88, a PEG ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $73.31.

Berry Global Group (NYSE:BERY) last announced its quarterly 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. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report 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 report on Wednesday, November 27th. StockNews.com assumed coverage on shares of Berry Global Group in a research report on Friday. They set a “buy” rating on the stock. Citigroup reissued a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Finally, 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 report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Company 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.