Forum Financial Management LP Acquires New Shares in Berry Global Group, Inc. (NYSE:BERY)

Forum Financial Management LP bought a new position in Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,007 shares of the industrial products company’s stock, valued at approximately $259,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock worth $128,691,000 after acquiring an additional 6,833 shares during the period. Norges Bank acquired a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $91,526,000. Magnetar Financial LLC bought a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $71,882,000. Charles Schwab Investment Management Inc. boosted its position in shares of Berry Global Group by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company’s stock worth $54,771,000 after buying an additional 11,010 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Berry Global Group by 41.7% in the 4th quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company’s stock worth $39,175,000 after buying an additional 178,287 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Performance

NYSE:BERY opened at $68.95 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The company has a 50-day moving average of $69.33 and a 200-day moving average of $68.55. Berry Global Group, Inc. has a twelve month low of $55.68 and a twelve month high of $74.24. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

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 analysts’ consensus estimates of $1.00 by $0.09. The firm 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 firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. Analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial cut their target price on Berry Global Group from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Tuesday. StockNews.com began coverage on shares of Berry Global Group in a research note on Friday, April 18th. They set a “buy” rating on the stock. Finally, UBS Group increased 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.13.

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.