Gabelli Funds LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Gabelli Funds LLC purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 64,300 shares of the industrial products company’s stock, valued at approximately $4,158,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sound Income Strategies LLC raised its position in shares of Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after purchasing an additional 8,622 shares during the period. Barclays PLC grew its stake in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after buying an additional 47,476 shares during the last quarter. SG Americas Securities LLC raised its holdings in Berry Global Group by 333.1% in the 4th quarter. SG Americas Securities LLC now owns 9,697 shares of the industrial products company’s stock worth $627,000 after acquiring an additional 7,458 shares during the period. Tidal Investments LLC lifted its position in Berry Global Group by 71.0% during the 3rd quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock worth $2,129,000 after acquiring an additional 13,004 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings 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 acquiring an additional 821 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 topic of a number of recent analyst reports. UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. StockNews.com assumed coverage on Berry Global Group in a report on Friday. They set a “buy” rating for the company. Finally, Truist Financial raised their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and a consensus price target of $75.75.

Berry Global Group Stock Performance

BERY opened at $67.60 on Friday. The stock’s 50 day simple moving average is $69.52 and its 200-day simple moving average is $68.51. 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 cap of $7.83 billion, a PE ratio of 16.86, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 1 year low of $55.68 and a 1 year high of $74.24.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for 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 for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. Sell-side analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio is 30.92%.

About Berry Global Group

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.