Charles Schwab Investment Management Inc. Buys 11,010 Shares of Berry Global Group, Inc. (NYSE:BERY)

Charles Schwab Investment Management Inc. increased its position in Berry Global Group, Inc. (NYSE:BERY) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 846,925 shares of the industrial products company’s stock after purchasing an additional 11,010 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Berry Global Group were worth $54,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares during the period. Calamos Advisors LLC purchased a new position in Berry Global Group during the 4th quarter worth $35,568,000. State Street Corp boosted its position in Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after acquiring an additional 360,857 shares in the last quarter. Goldentree Asset Management LP acquired a new stake in shares of Berry Global Group in the 3rd quarter worth $24,288,000. Finally, EdgePoint Investment Group Inc. boosted its position in shares of 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 worth $1,038,674,000 after purchasing an additional 336,186 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial lifted 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. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. StockNews.com assumed coverage on Berry Global Group in a research report on Sunday, March 9th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays upped their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Seven 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 stock has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Trading Down 3.1 %

Shares of BERY opened at $68.88 on Friday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $69.35 and a 200-day simple moving average of $68.44. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Berry Global Group’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. Equities analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is presently 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.