Decagon Asset Management LLP Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Decagon Asset Management LLP purchased a new position in Berry Global Group, Inc. (NYSE:BERY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 138,022 shares of the industrial products company’s stock, valued at approximately $8,926,000. Berry Global Group accounts for approximately 3.3% of Decagon Asset Management LLP’s investment portfolio, making the stock its 13th biggest position. Decagon Asset Management LLP owned about 0.12% of Berry Global Group as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. EdgePoint Investment Group Inc. grew its holdings in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after purchasing an additional 336,186 shares during the period. State Street Corp grew its holdings in Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after purchasing an additional 360,857 shares during the period. FMR LLC grew its holdings in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the period. Geode Capital Management LLC grew its holdings in Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after purchasing an additional 27,437 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Berry Global Group by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock worth $54,771,000 after purchasing an additional 11,010 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BERY. UBS Group raised their price target 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. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial raised 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. Finally, StockNews.com started coverage on shares of Berry Global Group in a research note on Monday. They issued a “buy” rating on the stock. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Stock Up 0.8 %

BERY opened at $71.07 on Wednesday. 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 company’s 50-day moving average is $69.76 and its 200 day moving average is $68.52. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The firm has a market capitalization of $8.23 billion, a P/E ratio of 17.72, a PEG ratio of 1.54 and a beta of 1.13.

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

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio is 30.92%.

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.