Burren Capital Advisors Ltd Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Burren Capital Advisors Ltd purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,338 shares of the industrial products company’s stock, valued at approximately $927,000. Berry Global Group accounts for about 4.5% of Burren Capital Advisors Ltd’s holdings, making the stock its 10th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of BERY. PCJ Investment Counsel Ltd. purchased a new position in shares of Berry Global Group in the fourth quarter worth approximately $3,751,000. Ashton Thomas Private Wealth LLC raised its position in Berry Global Group by 8.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 29,161 shares of the industrial products company’s stock worth $1,886,000 after acquiring an additional 2,342 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Berry Global Group during the 4th quarter worth $8,352,000. Arizona State Retirement System grew its position in shares of Berry Global Group by 1.0% during the 4th quarter. Arizona State Retirement System now owns 33,260 shares of the industrial products company’s stock valued at $2,151,000 after acquiring an additional 319 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Berry Global Group in the 4th quarter worth $1,679,000. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $73.11 on Friday. The firm has a fifty day simple moving average of $68.75 and a two-hundred day simple moving average of $68.24. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $73.75. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The stock has a market capitalization of $8.47 billion, a P/E ratio of 18.23, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last released 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 return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.22 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

Analysts Set New Price Targets

BERY has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. StockNews.com began coverage on Berry Global Group in a research note on Saturday, March 1st. They set a “buy” rating for the company. 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. Truist Financial lifted their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Finally, Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.