Ashton Thomas Private Wealth LLC Raises Stake in Berry Global Group, Inc. (NYSE:BERY)

Ashton Thomas Private Wealth LLC raised its stake in Berry Global Group, Inc. (NYSE:BERY) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,161 shares of the industrial products company’s stock after buying an additional 2,342 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Berry Global Group were worth $1,886,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BERY. FMR LLC grew its holdings 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 period. Calamos Advisors LLC purchased a new position in shares of Berry Global Group during the 4th quarter worth $35,568,000. State Street Corp grew 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 purchasing an additional 360,857 shares during the period. Goldentree Asset Management LP purchased a new position in shares of Berry Global Group during the 3rd quarter worth $24,288,000. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of Berry Global Group by 2.2% during 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 purchasing an additional 336,186 shares during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $73.11 on Friday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $73.75. The firm has a market capitalization of $8.47 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The stock’s 50-day simple moving average is $68.91 and its 200-day simple moving average is $68.30.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share 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 business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.22 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com assumed coverage on Berry Global Group in a report on Sunday. They set a “buy” rating for the company. Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. UBS Group raised their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada raised their target price on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Finally, Truist Financial increased their price target on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Berry Global Group has an average rating of “Hold” and an average price target of $74.56.

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.