NewEdge Wealth LLC Sells 9,819 Shares of Berry Global Group, Inc. (NYSE:BERY)

NewEdge Wealth LLC reduced its position in Berry Global Group, Inc. (NYSE:BERY) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 242,664 shares of the industrial products company’s stock after selling 9,819 shares during the quarter. NewEdge Wealth LLC owned approximately 0.21% of Berry Global Group worth $15,693,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the period. Venturi Wealth Management LLC raised its stake in Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Berry Global Group during the third quarter valued at $75,000. Townsquare Capital LLC acquired a new stake in shares of Berry Global Group in the 3rd quarter valued at $201,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Berry Global Group in the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $71.93 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $73.31. The stock has a market capitalization of $8.33 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.54 and a beta of 1.15. The business has a 50-day moving average price of $67.94 and a two-hundred day moving average price of $67.94.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 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 analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.22 EPS. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. Equities analysts predict 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 will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BERY shares. Royal Bank of Canada increased their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. UBS Group lifted 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 note on Friday, February 7th. Truist Financial lifted their price objective on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Finally, Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $74.56.

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.