Raymond James Financial Inc. Acquires Shares of 129,154 Berry Global Group, Inc. (NYSE:BERY)

Raymond James Financial Inc. purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 129,154 shares of the industrial products company’s stock, valued at approximately $8,352,000. Raymond James Financial Inc. owned about 0.11% of Berry Global Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Berry Global Group by 10,599.3% in the 4th quarter. Renaissance Technologies LLC now owns 324,937 shares of the industrial products company’s stock valued at $21,014,000 after buying an additional 321,900 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 165 shares during the last quarter. Russell Investments Group Ltd. increased its position in Berry Global Group by 38.1% in the fourth quarter. Russell Investments Group Ltd. now owns 72,563 shares of the industrial products company’s stock worth $4,693,000 after purchasing an additional 20,037 shares during the period. Integrated Quantitative Investments LLC bought a new stake in Berry Global Group during the 4th quarter worth about $343,000. Finally, Atlas Capital Advisors Inc. lifted its position in Berry Global Group by 7,390.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 1,626 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of BERY stock opened at $68.95 on Wednesday. The firm has a market capitalization 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, Inc. has a 12-month low of $55.68 and a 12-month high of $74.24. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a fifty day moving average of $69.33 and a 200-day moving average of $68.55.

Berry Global Group (NYSE:BERY) last announced its quarterly 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 return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BERY. Truist Financial dropped their price target on shares of Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday. StockNews.com started coverage on shares of Berry Global Group in a research report on Friday, April 18th. They set a “buy” rating for the company. Finally, UBS Group raised 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.