Harvest Fund Management Co. Ltd Has $117,000 Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Harvest Fund Management Co. Ltd raised its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 25,814.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,814 shares of the industrial products company’s stock after purchasing an additional 1,807 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Berry Global Group were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BERY. FMR LLC boosted its holdings in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in Berry Global Group during the fourth quarter valued at approximately $38,323,000. Calamos Advisors LLC acquired a new stake in Berry Global Group during the fourth quarter valued at approximately $35,568,000. State Street Corp boosted its holdings in Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares in the last quarter. Finally, Goldentree Asset Management LP acquired a new stake in Berry Global Group during the third quarter valued at approximately $24,288,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BERY. JPMorgan Chase & Co. reiterated 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. StockNews.com began coverage on shares of Berry Global Group in a research note on Monday, March 17th. They issued a “buy” rating for the company. Barclays lifted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Truist Financial lifted their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup reiterated a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Performance

BERY stock opened at $68.13 on Friday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The company has a 50 day moving average price of $69.98 and a 200 day moving average price of $68.54. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The stock has a market capitalization of $7.89 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. Analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is 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.