Cannell & Spears LLC Has $18.18 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Cannell & Spears LLC cut its holdings in Berry Global Group, Inc. (NYSE:BERY) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,076 shares of the industrial products company’s stock after selling 62,259 shares during the period. Cannell & Spears LLC owned approximately 0.24% of Berry Global Group worth $18,177,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after buying an additional 27,437 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Berry Global Group by 13.4% during 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 acquiring an additional 8,622 shares during the period. Barclays PLC grew its position in shares of Berry Global Group by 87.1% in the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after purchasing an additional 47,476 shares during the last quarter. SG Americas Securities LLC increased its position 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 buying an additional 7,458 shares during the period. Finally, Tidal Investments LLC raised its stake 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 valued at $2,129,000 after purchasing an additional 13,004 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Price Performance

Shares of BERY stock opened at $69.46 on Monday. The stock’s fifty day moving average is $70.20 and its 200-day moving average is $68.64. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24. The stock has a market capitalization of $8.04 billion, a PE ratio of 17.32, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data 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 net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $1.22 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

BERY has been the topic of several research reports. StockNews.com assumed coverage on Berry Global Group in a research note on Tuesday, March 25th. They set a “buy” rating on the stock. UBS Group raised their price objective 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. Finally, Truist Financial upped their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.56.

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.