New York Life Investment Management LLC Takes $8.10 Million Position in Berry Global Group, Inc. (NYSE:BERY)

New York Life Investment Management LLC acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 125,213 shares of the industrial products company’s stock, valued at approximately $8,098,000. New York Life Investment Management LLC owned approximately 0.11% of Berry Global Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after purchasing an additional 198 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Berry Global Group by 95.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,280 shares of the industrial products company’s stock valued at $1,039,000 after buying an additional 7,447 shares during the period. State of Alaska Department of Revenue lifted its holdings in Berry Global Group by 3.3% in the third quarter. State of Alaska Department of Revenue now owns 22,962 shares of the industrial products company’s stock valued at $1,560,000 after acquiring an additional 730 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Berry Global Group in the third quarter worth approximately $403,000. Finally, Diversify Advisory Services LLC purchased a new position in Berry Global Group in the third quarter worth approximately $278,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com started coverage on Berry Global Group in a research note on Friday, February 21st. They issued a “buy” rating on the stock. Truist Financial increased their target price 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. Barclays lifted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Royal Bank of Canada raised their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Down 0.3 %

BERY stock opened at $71.76 on Friday. The company’s 50 day moving average price is $67.94 and its 200 day moving average price is $67.94. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $73.31. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Monday, March 3rd. 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.