Oppenheimer Asset Management Inc. Grows Position in Berry Global Group, Inc. (NYSE:BERY)

Oppenheimer Asset Management Inc. grew its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 115,485 shares of the industrial products company’s stock after buying an additional 1,571 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Berry Global Group were worth $7,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of BERY. New York Life Investment Management LLC purchased a new position in shares of Berry Global Group in the fourth quarter valued at $8,098,000. Illinois Municipal Retirement Fund boosted its stake in Berry Global Group by 19.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 51,440 shares of the industrial products company’s stock worth $3,327,000 after purchasing an additional 8,342 shares during the period. Olympiad Research LP purchased a new position in Berry Global Group during the 4th quarter valued at about $1,450,000. Hudson Edge Investment Partners Inc. increased its position in shares of Berry Global Group by 1.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 80,641 shares of the industrial products company’s stock valued at $5,215,000 after buying an additional 1,416 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Berry Global Group in the fourth quarter worth about $815,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $72.15 on Friday. The firm has a market capitalization of $8.35 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. 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 $73.31. The business’s 50-day moving average price is $68.08 and its 200-day moving average price is $67.96.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.22 earnings per share. Sell-side analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is presently 30.92%.

Analysts Set New Price Targets

Several brokerages recently commented on BERY. StockNews.com started coverage on shares of Berry Global Group in a research note on Saturday. They set a “buy” rating for the company. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays increased their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup restated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Truist Financial upped 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. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.