Scotia Capital Inc. Cuts Holdings in Berry Global Group, Inc. (NYSE:BERY)

by · The Cerbat Gem

Scotia Capital Inc. decreased its holdings in Berry Global Group, Inc. (NYSE:BERY – Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,327 shares of the industrial products company’s stock after selling 4,910 shares during the period. Scotia Capital Inc.’s holdings in Berry Global Group were worth $12,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BERY. Geode Capital Management LLC increased its holdings in 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 buying an additional 6,833 shares in the last quarter. Norges Bank bought a new position in Berry Global Group during the 4th quarter valued at about $91,526,000. Magnetar Financial LLC purchased a new stake in shares of Berry Global Group during the 4th quarter valued at about $71,882,000. Charles Schwab Investment Management Inc. grew its stake in shares of Berry Global Group by 1.3% in 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 acquiring an additional 11,010 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Berry Global Group by 41.7% during the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company’s stock valued at $39,175,000 after purchasing an additional 178,287 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

NYSE:BERY opened at $64.64 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. The stock has a 50-day simple moving average of $69.75 and a two-hundred day simple moving average of $68.54. The firm has a market capitalization of $7.49 billion, a PE ratio of 16.12, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $74.24.

Berry Global Group (NYSE:BERY – Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Analyst Ratings Changes

BERY has been the topic of several research reports. Truist Financial raised their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. StockNews.com began coverage on Berry Global Group in a research note on Thursday. They issued a “buy” rating on the stock. Finally, UBS Group upped their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus target price of $74.56.

Read Our Latest Stock Analysis on Berry Global Group

Berry Global Group Company Profile

(Free Report)

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.

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