Connable Office Inc. Decreases Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Connable Office Inc. reduced its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,193 shares of the industrial products company’s stock after selling 267 shares during the period. Connable Office Inc.’s holdings in Berry Global Group were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BERY. FMR LLC lifted its position in shares of Berry Global Group by 38.4% during the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Berry Global Group during the 4th quarter worth $35,568,000. State Street Corp lifted its position 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 purchasing an additional 360,857 shares during the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Berry Global Group during the 3rd quarter worth $24,288,000. Finally, EdgePoint Investment Group Inc. lifted its position in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after acquiring an additional 336,186 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BERY has been the topic of a number of recent research reports. 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 research note on Monday, November 25th. Royal Bank of Canada boosted their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. StockNews.com began coverage on shares of Berry Global Group in a research note on Saturday. They set a “buy” rating on the stock. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Barclays boosted their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Up 0.6 %

BERY stock opened at $72.15 on Friday. The company has a market cap of $8.35 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $73.31. The company’s 50-day moving average price is $68.08 and its 200 day moving average price is $67.96. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share. On average, research analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share 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 issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Berry Global Group Company 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.