Mitsubishi UFJ Trust & Banking Corp Sells 28,576 Shares of Berry Global Group, Inc. (NYSE:BERY)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Berry Global Group, Inc. (NYSE:BERY) by 50.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,519 shares of the industrial products company’s stock after selling 28,576 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Berry Global Group were worth $1,844,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new position in Berry Global Group in the 4th quarter valued at $71,882,000. Alpine Associates Management Inc. acquired a new position in Berry Global Group in the fourth quarter valued at about $38,323,000. Calamos Advisors LLC bought a new stake in Berry Global Group during the fourth quarter worth about $35,568,000. State Street Corp grew its stake in 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 worth $260,487,000 after buying an additional 360,857 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in 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 buying an additional 336,186 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analysts Set New Price Targets

BERY has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com initiated coverage on Berry Global Group in a report on Wednesday. They issued a “buy” rating on the stock. Finally, Truist Financial boosted 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. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Trading Up 1.1 %

NYSE BERY opened at $70.58 on Wednesday. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a twelve month low of $55.24 and a twelve 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 business’s fifty day moving average is $70.29 and its 200 day moving average is $68.70.

Berry Global Group (NYSE:BERY) last released 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. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $1.22 earnings per share. As a group, sell-side analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s 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.