California Public Employees Retirement System Cuts Stake in Berry Global Group, Inc. (NYSE:BERY)

California Public Employees Retirement System decreased its position in Berry Global Group, Inc. (NYSE:BERY) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 212,211 shares of the industrial products company’s stock after selling 16,057 shares during the period. California Public Employees Retirement System owned about 0.18% of Berry Global Group worth $13,724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Berry Global Group by 3,569.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after buying an additional 821 shares in the last quarter. Venturi Wealth Management LLC raised its position in Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in Berry Global Group by 25,814.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 1,807 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in shares of Berry Global Group during the 4th quarter worth $200,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of Berry Global Group in a research note on Wednesday. They issued a “buy” rating for the company. UBS Group boosted their price target on 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, Truist Financial raised their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Stock Performance

Berry Global Group stock opened at $66.34 on Friday. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.54 and a beta of 1.14. The stock has a fifty day moving average of $70.31 and a two-hundred day moving average of $68.72. 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 (NYSE:BERY) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.87%. Berry Global Group’s payout ratio is currently 30.92%.

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.