129,154 Shares in Berry Global Group, Inc. (NYSE:BERY) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 129,154 shares of the industrial products company’s stock, valued at approximately $8,352,000.

A number of other hedge funds also recently made changes to their positions in the stock. EdgePoint Investment Group Inc. boosted its holdings in shares of Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after purchasing an additional 336,186 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 valued at $260,487,000 after purchasing an additional 360,857 shares during the last quarter. FMR LLC boosted its holdings in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $134,806,000 after purchasing an additional 27,437 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Berry Global Group by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock valued at $54,771,000 after purchasing an additional 11,010 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BERY. UBS Group lifted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. StockNews.com started coverage on shares of Berry Global Group in a research note on Monday, March 17th. They issued a “buy” rating on the stock. Citigroup reissued a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Truist Financial raised their target price 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 research 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 presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

Berry Global Group stock opened at $68.13 on Friday. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $74.24. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. 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 firm’s fifty day moving average price is $69.98 and its 200 day moving average price is $68.54.

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 (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

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.