Allspring Global Investments Holdings LLC Trims Position in Berry Global Group, Inc. (NYSE:BERY)

Allspring Global Investments Holdings LLC cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 833,200 shares of the industrial products company’s stock after selling 2,134 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.72% of Berry Global Group worth $53,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Summit Trail Advisors LLC bought a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $221,000. Savant Capital LLC boosted its holdings in Berry Global Group by 1.4% in the fourth quarter. Savant Capital LLC now owns 27,083 shares of the industrial products company’s stock worth $1,751,000 after acquiring an additional 370 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in Berry Global Group in the fourth quarter worth $221,000. Tectonic Advisors LLC boosted its holdings in Berry Global Group by 1.8% in the fourth quarter. Tectonic Advisors LLC now owns 77,591 shares of the industrial products company’s stock worth $5,018,000 after acquiring an additional 1,360 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in Berry Global Group in the fourth quarter worth $35,568,000. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on BERY shares. StockNews.com started coverage on Berry Global Group in a report on Thursday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup reissued a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Barclays boosted their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada boosted their target price on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Up 0.7 %

Shares of NYSE:BERY opened at $70.42 on Friday. The company has a market cap of $8.15 billion, a P/E ratio of 17.56, a PEG ratio of 1.50 and a beta of 1.15. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 0.80. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $73.31. The stock’s fifty day moving average price is $67.30 and its 200-day moving average price is $67.42.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data 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 company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. Berry Global Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Sell-side analysts expect that Berry Global Group, Inc. will post 6.3 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) 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.