Massachusetts Financial Services Co. MA Sells 566,112 Shares of Berry Global Group, Inc. (NYSE:BERY)

Massachusetts Financial Services Co. MA lowered its position in Berry Global Group, Inc. (NYSE:BERY) by 19.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,301,321 shares of the industrial products company’s stock after selling 566,112 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Berry Global Group were worth $148,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. raised 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 acquiring an additional 336,186 shares in the last quarter. State Street Corp grew 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 buying an additional 360,857 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock worth $128,691,000 after buying an additional 6,833 shares during the last quarter. Norges Bank purchased a new stake in shares of Berry Global Group during the 4th quarter valued at $91,526,000. Finally, Magnetar Financial LLC bought a new stake in shares of Berry Global Group during the 4th quarter worth $71,882,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BERY. UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Truist Financial increased their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Finally, StockNews.com began coverage on Berry Global Group in a research report on Wednesday. They issued a “buy” rating for the company. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

BERY opened at $66.34 on Friday. 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 stock’s 50 day simple moving average is $70.31 and its 200 day simple moving average is $68.71. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $74.24.

Berry Global Group (NYSE:BERY) last issued its 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. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $1.22 earnings per share. As a group, analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. Berry Global Group’s dividend payout ratio is currently 30.92%.

Berry Global Group 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.