GABELLI & Co INVESTMENT ADVISERS INC. Acquires New Position in Berry Global Group, Inc. (NYSE:BERY)

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, HoldingsChannel reports. The firm bought 71,521 shares of the industrial products company’s stock, valued at approximately $4,625,000.

A number of other large investors also recently bought and sold shares of BERY. Greenleaf Trust raised its position in shares of Berry Global Group by 3.5% during the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 149 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Berry Global Group by 28.8% in the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after buying an additional 165 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Berry Global Group by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after buying an additional 170 shares during the period. M&T Bank Corp raised its stake in Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 173 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Berry Global Group by 2.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock worth $649,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BERY. UBS Group increased their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. StockNews.com began coverage on shares of Berry Global Group in a report on Thursday, April 10th. They set a “buy” rating for the company. Finally, Truist Financial increased their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Up 1.9 %

Shares of BERY stock opened at $68.37 on Tuesday. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $74.24. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The business’s fifty day moving average is $69.63 and its 200-day moving average is $68.53. The stock has a market cap of $7.92 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company posted $1.22 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s payout ratio 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.