Summit Trail Advisors LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Summit Trail Advisors LLC purchased a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,423 shares of the industrial products company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently made changes to their positions in BERY. Creative Planning boosted its stake in Berry Global Group by 5.9% during the second quarter. Creative Planning now owns 6,629 shares of the industrial products company’s stock valued at $390,000 after buying an additional 372 shares during the period. SG Americas Securities LLC bought a new stake in shares of Berry Global Group during the 3rd quarter valued at about $152,000. CWM LLC grew its holdings in shares of Berry Global Group by 340.0% during the third quarter. CWM LLC now owns 8,843 shares of the industrial products company’s stock worth $601,000 after purchasing an additional 6,833 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Berry Global Group by 149.3% during the third quarter. Blue Trust Inc. now owns 3,829 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 2,293 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Berry Global Group by 32.3% in the third quarter. Raymond James & Associates now owns 261,538 shares of the industrial products company’s stock worth $17,779,000 after purchasing an additional 63,836 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BERY has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays lifted their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial lifted 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. Finally, Royal Bank of Canada increased their price objective 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. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Up 0.0 %

Shares of BERY stock opened at $69.92 on Thursday. The business has a 50-day moving average of $67.30 and a 200 day moving average of $67.42. 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 has a market capitalization of $8.10 billion, a PE ratio of 17.44, a P/E/G ratio of 1.50 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

About Berry Global Group

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.