Norges Bank Purchases Shares of 1,415,274 Berry Global Group, Inc. (NYSE:BERY)

Norges Bank acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,415,274 shares of the industrial products company’s stock, valued at approximately $91,526,000. Norges Bank owned about 1.22% of Berry Global Group as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its stake in Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after buying an additional 336,186 shares during the last quarter. State Street Corp lifted its holdings in shares of Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after acquiring an additional 27,437 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Berry Global Group in the fourth quarter worth approximately $71,882,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Berry Global Group by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock valued at $54,771,000 after purchasing an additional 11,010 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Trading Up 0.2 %

NYSE:BERY opened at $70.71 on Thursday. The business’s 50-day moving average is $70.34 and its two-hundred day moving average is $68.72. The firm has a market capitalization of $8.19 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09.

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 firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $1.22 EPS. Berry Global Group’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com started coverage on shares of Berry Global Group in a research note on Wednesday. They set a “buy” rating on the stock. UBS Group increased their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Truist Financial upped their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently 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.