Amundi Invests $2.38 Million in Berry Global Group, Inc. (NYSE:BERY)

Amundi purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35,960 shares of the industrial products company’s stock, valued at approximately $2,382,000.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 306 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Berry Global Group by 3,569.6% in the 4th 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. Venturi Wealth Management LLC increased its position in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 876 shares during the period. Merit Financial Group LLC acquired a new position in shares of Berry Global Group in the 4th quarter valued at $200,000. Finally, Townsquare Capital LLC acquired a new position in shares of Berry Global Group in the 3rd quarter valued at $201,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Trading Up 1.7 %

BERY stock opened at $70.10 on Monday. The company’s 50-day simple moving average is $69.55 and its 200-day simple moving average is $68.48. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $74.24. The firm has a market cap of $8.12 billion, a P/E ratio of 17.48, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last posted its earnings results 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 business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts forecast 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 will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BERY shares. Royal Bank of Canada upped their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. StockNews.com began coverage on Berry Global Group in a research report on Monday. They issued a “buy” rating on the stock. Truist Financial upped their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Company 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.