Geode Capital Management LLC Boosts Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Geode Capital Management LLC raised its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,989,350 shares of the industrial products company’s stock after buying an additional 6,833 shares during the period. Geode Capital Management LLC’s holdings in Berry Global Group were worth $128,691,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BERY. Norges Bank acquired a new position in Berry Global Group during the 4th quarter valued at about $91,526,000. Magnetar Financial LLC purchased a new stake in shares of Berry Global Group during the fourth quarter worth about $71,882,000. Alpine Associates Management Inc. acquired a new position in shares of Berry Global Group during the fourth quarter valued at about $38,323,000. Calamos Advisors LLC purchased a new position in shares of Berry Global Group in the 4th quarter valued at approximately $35,568,000. Finally, State Street Corp boosted its stake in Berry Global Group by 10.4% in the 3rd 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 in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group upped their price target 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. StockNews.com assumed coverage on Berry Global Group in a research note on Wednesday, April 2nd. They issued a “buy” rating for the company. Finally, Truist Financial boosted their price target 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Down 3.9 %

Shares of NYSE:BERY opened at $61.52 on Wednesday. The company has a market capitalization of $7.12 billion, a PE ratio of 15.34, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $74.24. The business has a 50 day moving average of $69.92 and a two-hundred day moving average of $68.61. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

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, topping 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 period in the prior year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s 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.