KLP Kapitalforvaltning AS Acquires New Position in Berry Global Group, Inc. (NYSE:BERY)

KLP Kapitalforvaltning AS bought a new position in Berry Global Group, Inc. (NYSE:BERY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,600 shares of the industrial products company’s stock, valued at approximately $2,238,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BERY. UMB Bank n.a. increased its stake in shares of 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 during the last quarter. Steward Partners Investment Advisory LLC boosted its position in Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 876 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in Berry Global Group by 25,814.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new stake in shares of Berry Global Group during the 3rd quarter worth about $201,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

BERY has been the subject of several recent research reports. UBS Group boosted their price target 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 boosted their target price 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. Finally, StockNews.com began coverage on shares of Berry Global Group in a report on Tuesday. They set a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $70.03 on Friday. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. The firm has a fifty day simple moving average of $70.17 and a 200-day simple moving average of $68.57. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share 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 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 in the previous year, the business earned $1.22 EPS. On average, sell-side analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.31 dividend. 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 dividend payout ratio (DPR) is currently 30.92%.

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.