Illinois Municipal Retirement Fund Grows Stake in Berry Global Group, Inc. (NYSE:BERY)

Illinois Municipal Retirement Fund lifted its stake in Berry Global Group, Inc. (NYSE:BERY) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,440 shares of the industrial products company’s stock after buying an additional 8,342 shares during the period. Illinois Municipal Retirement Fund’s holdings in Berry Global Group were worth $3,327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BERY. Greenleaf Trust lifted its position in Berry Global Group by 3.5% during the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock worth $285,000 after acquiring an additional 149 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Berry Global Group by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 170 shares during the period. M&T Bank Corp lifted its position in shares of Berry Global Group by 3.1% during the third quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 173 shares in the last quarter. Creative Planning boosted its stake in shares of Berry Global Group by 3.0% in the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 198 shares during the period. Finally, UMB Bank n.a. grew its holdings in 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 valued at $42,000 after purchasing an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Truist Financial boosted their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Citigroup reissued a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, StockNews.com began coverage on Berry Global Group in a research note on Friday, February 21st. They set a “buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Stock Down 0.9 %

Shares of NYSE:BERY opened at $71.93 on Thursday. The company’s fifty day moving average is $67.94 and its two-hundred day moving average is $67.94. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. 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 price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is 30.92%.

Berry Global Group 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.