New York Life Investment Management LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

New York Life Investment Management LLC acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, Holdings Channel reports. The fund acquired 125,213 shares of the industrial products company’s stock, valued at approximately $8,098,000.

Other large investors have also modified their holdings of the company. UMB Bank n.a. increased its position in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the period. Venturi Wealth Management LLC grew its position in shares of Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Berry Global Group during the third quarter worth approximately $75,000. Townsquare Capital LLC acquired a new position in shares of Berry Global Group in the 3rd quarter valued at $201,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Berry Global Group in the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BERY. UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Truist Financial raised their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays boosted their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

Shares of BERY stock opened at $71.76 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $73.31. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The stock has a 50 day simple moving average of $67.94 and a 200-day simple moving average of $67.94.

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, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business earned $1.22 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 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.