Vestcor Inc Has $591,000 Position in Berry Global Group, Inc. (NYSE:BERY)

Vestcor Inc increased its stake in Berry Global Group, Inc. (NYSE:BERY) by 1,232.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,140 shares of the industrial products company’s stock after purchasing an additional 8,454 shares during the quarter. Vestcor Inc’s holdings in Berry Global Group were worth $591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of 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 worth $55,000 after buying an additional 821 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after buying an additional 876 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Berry Global Group during the fourth quarter worth approximately $200,000. Finally, Townsquare Capital LLC acquired a new position in shares of Berry Global Group during the third quarter worth approximately $201,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Trading Up 1.7 %

Shares of BERY opened at $70.10 on Monday. 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 12-month low of $55.24 and a 12-month high of $74.24. The firm has a market capitalization of $8.12 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The stock’s fifty day simple moving average is $69.55 and its 200-day simple moving average is $68.48.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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 note on Thursday, November 21st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com assumed coverage on Berry Global Group in a research note on Monday. They issued a “buy” rating for the company. Barclays upped their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Citigroup restated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.56.

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.