Berry Global Group, Inc. (NYSE:BERY) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,818 shares of the industrial products company’s stock after selling 982 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Berry Global Group were worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BERY. Geode Capital Management LLC lifted its holdings in shares of Berry Global Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after purchasing an additional 6,833 shares in the last quarter. Norges Bank acquired a new position in Berry Global Group during the fourth quarter worth approximately $91,526,000. Magnetar Financial LLC acquired a new position in Berry Global Group during the fourth quarter worth approximately $71,882,000. Charles Schwab Investment Management Inc. increased its position in Berry Global Group by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock worth $54,771,000 after purchasing an additional 11,010 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Berry Global Group by 41.7% in the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company’s stock worth $39,175,000 after acquiring an additional 178,287 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

Shares of BERY stock opened at $69.74 on Tuesday. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 17.39, 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, Inc. has a 12-month low of $56.60 and a 12-month high of $74.24. The business has a 50 day simple moving average of $69.21 and a 200 day simple moving average of $68.62.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given 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 dividend yield of 1.78%. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BERY. Truist Financial dropped their price objective on shares of Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. StockNews.com started coverage on Berry Global Group in a report on Saturday. They issued a “buy” rating for the company. Finally, UBS Group boosted their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Berry Global Group has an average rating of “Hold” and a consensus target price of $75.13.

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.