Calamos Advisors LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Calamos Advisors LLC acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 550,000 shares of the industrial products company’s stock, valued at approximately $35,568,000. Calamos Advisors LLC owned approximately 0.48% of Berry Global Group as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 27,437 shares during the period. Sound Income Strategies LLC boosted its position in Berry Global Group by 13.4% during the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after acquiring an additional 8,622 shares during the period. Hancock Whitney Corp purchased a new position in Berry Global Group during the 3rd quarter valued at about $1,065,000. Integrated Investment Consultants LLC acquired a new position in shares of Berry Global Group in the 3rd quarter valued at about $714,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Berry Global Group by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 835,334 shares of the industrial products company’s stock worth $56,786,000 after purchasing an additional 37,242 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

BERY opened at $66.86 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. The stock’s 50 day moving average price is $67.47 and its two-hundred day moving average price is $67.12. The firm has a market capitalization of $7.74 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.15. Berry Global Group, Inc. has a 12-month low of $54.06 and a 12-month high of $73.31.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is currently 28.25%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com initiated coverage on Berry Global Group in a research note on Tuesday, January 28th. They set a “buy” rating for the company. Barclays increased their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada lifted their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Finally, Truist Financial increased their price target on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.30.

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.