Summit Trail Advisors LLC Invests $221,000 in Berry Global Group, Inc. (NYSE:BERY)

Summit Trail Advisors LLC bought a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, Holdings Channel reports. The fund bought 3,423 shares of the industrial products company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of Berry Global Group in the 4th quarter valued at approximately $35,568,000. State Street Corp boosted its position in shares of Berry Global Group by 10.4% during the third 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 in the last quarter. Goldentree Asset Management LP purchased a new stake in Berry Global Group in the third quarter worth $24,288,000. Finally, EdgePoint Investment Group Inc. raised its holdings in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after purchasing an additional 336,186 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $69.92 on Thursday. The firm has a market cap of $8.10 billion, a P/E ratio of 17.44, a PEG ratio of 1.50 and a beta of 1.15. Berry Global Group, Inc. has a twelve month low of $55.24 and a twelve month high of $73.31. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The company has a 50 day moving average of $67.30 and a 200 day moving average of $67.42.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts expect that Berry Global Group, Inc. will post 6.3 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BERY. JPMorgan Chase & Co. restated an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. StockNews.com assumed coverage on shares of Berry Global Group in a research note on Thursday. They set a “buy” rating for the company. Citigroup reiterated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Finally, Truist Financial upped their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and a consensus price target 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.