Berry Global Group, Inc. (NYSE:BERY) Shares Bought by Vestcor Inc

Vestcor Inc lifted its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 1,232.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,140 shares of the industrial products company’s stock after purchasing an additional 8,454 shares during the quarter. Vestcor Inc’s holdings in Berry Global Group were worth $591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Greenleaf Trust raised its stake in shares of Berry Global Group by 3.5% during the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 149 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Berry Global Group by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 170 shares in the last quarter. M&T Bank Corp raised its stake in shares of 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 valued at $396,000 after purchasing an additional 173 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 valued at $42,000 after purchasing an additional 306 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Berry Global Group by 1.0% during the fourth quarter. Arizona State Retirement System now owns 33,260 shares of the industrial products company’s stock valued at $2,151,000 after purchasing an additional 319 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BERY has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Truist Financial boosted their price target 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. Barclays boosted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Finally, UBS Group boosted their price target 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. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Trading Up 1.7 %

NYSE:BERY opened at $70.10 on Monday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The stock’s 50-day moving average is $69.55 and its two-hundred day moving average is $68.48. The stock has a market cap of $8.12 billion, a PE ratio of 17.48, a price-to-earnings-growth 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, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. 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 business posted $1.22 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.31 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. Berry Global Group’s 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.