Cannell & Spears LLC Has $18.18 Million Holdings in Berry Global Group, Inc. (NYSE:BERY)

Cannell & Spears LLC trimmed its holdings in Berry Global Group, Inc. (NYSE:BERY) by 18.1% in the fourth quarter, Holdings Channel reports. The fund owned 281,076 shares of the industrial products company’s stock after selling 62,259 shares during the period. Cannell & Spears LLC’s holdings in Berry Global Group were worth $18,177,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. O Shaughnessy Asset Management LLC lifted its position in Berry Global Group by 5.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 68,265 shares of the industrial products company’s stock valued at $4,415,000 after acquiring an additional 3,326 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Berry Global Group by 6.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,680 shares of the industrial products company’s stock valued at $1,014,000 after purchasing an additional 933 shares in the last quarter. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Berry Global Group during the fourth quarter worth about $3,544,000. Norges Bank bought a new position in shares of Berry Global Group during the fourth quarter worth about $91,526,000. Finally, JPMorgan Chase & Co. raised its position in Berry Global Group by 41.7% in the 4th quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company’s stock valued at $39,175,000 after buying an additional 178,287 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Price Performance

NYSE:BERY opened at $69.46 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 stock’s 50 day moving average price is $70.20 and its two-hundred day moving average price is $68.64. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 17.32, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion during 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 company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 earnings per share. On average, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.79%. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BERY. Truist Financial raised their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. StockNews.com initiated coverage on shares of Berry Global Group in a research note on Tuesday, March 25th. They set a “buy” rating for the company. Finally, UBS Group lifted their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Company 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.