Arizona State Retirement System Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Arizona State Retirement System grew its stake in Berry Global Group, Inc. (NYSE:BERY) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,260 shares of the industrial products company’s stock after acquiring an additional 319 shares during the period. Arizona State Retirement System’s holdings in Berry Global Group were worth $2,151,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its position in Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 306 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after buying an additional 821 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after buying an additional 876 shares during the period. Merit Financial Group LLC acquired a new position in Berry Global Group during the 4th quarter worth about $200,000. Finally, Townsquare Capital LLC purchased a new position in Berry Global Group during the 3rd quarter valued at about $201,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

NYSE:BERY opened at $72.79 on Tuesday. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24. 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 has a market capitalization of $8.43 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The business’s fifty day moving average price is $68.91 and its 200 day moving average price is $68.34.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate 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 will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.70%. Berry Global Group’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of analysts have issued reports on BERY shares. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $76.00 price target (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group upped their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Barclays increased their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Truist Financial boosted their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada increased their price objective on 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. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average target price of $74.56.

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.