Erste Asset Management GmbH Makes New $455,000 Investment in Berry Global Group, Inc. (NYSE:BERY)

Erste Asset Management GmbH bought a new position in Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, Holdings Channel reports. The institutional investor bought 7,000 shares of the industrial products company’s stock, valued at approximately $455,000.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares during the last quarter. Steward Partners Investment Advisory LLC raised 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 worth $55,000 after purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of 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 purchasing an additional 876 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Berry Global Group in the fourth quarter worth $200,000. Finally, Townsquare Capital LLC purchased a new position in shares of Berry Global Group in the third quarter worth $201,000. 95.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on BERY shares. Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada upped their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Barclays upped their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. UBS Group upped their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, StockNews.com initiated coverage on Berry Global Group in a research report on Sunday, March 9th. They issued a “buy” rating for the company. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Berry Global Group has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Trading Up 1.7 %

Shares of BERY stock opened at $70.10 on Friday. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $74.24. 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 stock’s 50 day simple moving average is $69.55 and its two-hundred day simple moving average is $68.48. The company has a market cap of $8.12 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its quarterly 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 firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.31 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. Berry Global Group’s payout ratio is 30.92%.

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.