Corient Private Wealth LLC Reduces Position in Berry Global Group, Inc. (NYSE:BERY)

Corient Private Wealth LLC lowered its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 21.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,820 shares of the industrial products company’s stock after selling 1,880 shares during the quarter. Corient Private Wealth LLC’s holdings in Berry Global Group were worth $441,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after buying an additional 306 shares during the last quarter. Steward Partners Investment Advisory LLC increased 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 buying an additional 821 shares during the last quarter. Venturi Wealth Management LLC raised its position in Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the period. Merit Financial Group LLC purchased a new position in shares of Berry Global Group during the 4th quarter worth $200,000. Finally, Townsquare Capital LLC bought a new stake in shares of Berry Global Group during the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Down 0.8 %

Shares of BERY opened at $69.46 on Friday. The business’s 50 day moving average is $70.20 and its 200 day moving average is $68.62. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $74.24. The company has a market capitalization of $8.04 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group raised their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com started coverage on Berry Global Group in a research report on Tuesday, March 25th. They issued a “buy” rating for the company. Finally, 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 report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus target price of $74.56.

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.