Berry Global Group, Inc. (NYSE:BERY) Stock Position Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,953 shares of the industrial products company’s stock after selling 10,809 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Berry Global Group were worth $25,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors 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 worth $42,000 after acquiring an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares during 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 worth $69,000 after purchasing an additional 876 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Berry Global Group by 25,814.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new stake in Berry Global Group during the third quarter valued at approximately $201,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $69.91 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 quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The stock has a market cap of $8.10 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The business has a fifty day simple moving average of $70.24 and a 200-day simple moving average of $68.67.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.22 EPS. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BERY shares. Truist Financial lifted 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 report on Monday, February 10th. StockNews.com initiated coverage on Berry Global Group in a report on Tuesday, March 25th. They issued a “buy” rating on the stock. Finally, UBS Group upped their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.56.

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.