Franklin Resources Inc. Boosts Holdings in Berry Global Group, Inc. (NYSE:BERY)

Franklin Resources Inc. lifted its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 339,058 shares of the industrial products company’s stock after buying an additional 25,729 shares during the quarter. Franklin Resources Inc. owned about 0.29% of Berry Global Group worth $21,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after buying an additional 27,437 shares during the period. Sound Income Strategies LLC lifted its position in Berry Global Group by 13.4% during the 4th 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 boosted its stake in Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after acquiring an additional 47,476 shares in the last quarter. SG Americas Securities LLC grew its holdings in Berry Global Group by 333.1% in the fourth quarter. SG Americas Securities LLC now owns 9,697 shares of the industrial products company’s stock worth $627,000 after purchasing an additional 7,458 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Berry Global Group by 71.0% during the third 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 in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group boosted their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Truist Financial increased their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, StockNews.com started coverage on Berry Global Group in a research report on Wednesday, April 2nd. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Trading Down 3.6 %

Berry Global Group stock opened at $66.34 on Monday. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $74.24. The business’s fifty day moving average is $70.31 and its 200 day moving average is $68.73. The stock has a market capitalization of $7.68 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. 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 (NYSE:BERY) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.87%. Berry Global Group’s dividend payout ratio is presently 30.92%.

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.