Paloma Partners Management Co Makes New $616,000 Investment in Berry Global Group, Inc. (NYSE:BERY)

Paloma Partners Management Co acquired a new stake in Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,520 shares of the industrial products company’s stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake 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 valued at $128,691,000 after buying an additional 6,833 shares during the period. Khrom Capital Management LLC lifted its stake in Berry Global Group by 14.8% in the fourth quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock worth $105,413,000 after acquiring an additional 210,046 shares during the last quarter. Norges Bank purchased a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $91,526,000. Magnetar Financial LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $71,882,000. Finally, Northern Trust Corp raised its holdings in shares of Berry Global Group by 26.3% in the 4th quarter. Northern Trust Corp now owns 1,000,009 shares of the industrial products company’s stock valued at $64,671,000 after purchasing an additional 208,303 shares in the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Up 1.4 %

BERY stock opened at $69.74 on Tuesday. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a fifty day moving average price of $69.21 and a 200 day moving average price of $68.62. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a 12 month low of $56.60 and a 12 month high of $74.24.

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, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Sell-side analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The business 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 dividend yield of 1.78%. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BERY shares. Truist Financial dropped their target price on Berry Global Group from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. UBS Group raised their target price 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 assumed coverage on Berry Global Group in a report on Saturday. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $75.13.

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.