PCJ Investment Counsel Ltd. Makes New $3.75 Million Investment in Berry Global Group, Inc. (NYSE:BERY)

PCJ Investment Counsel Ltd. bought a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,000 shares of the industrial products company’s stock, valued at approximately $3,751,000. Berry Global Group makes up 1.3% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 19th largest position. PCJ Investment Counsel Ltd. owned 0.05% of Berry Global Group at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BERY. Greenleaf Trust lifted its position in shares of Berry Global Group by 3.5% during the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 149 shares during the period. CIBC Asset Management Inc raised its holdings in 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 worth $229,000 after purchasing an additional 170 shares during the last quarter. M&T Bank Corp boosted its position in 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. UMB Bank n.a. grew its holdings in 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 valued at $42,000 after purchasing an additional 306 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Berry Global Group by 9.1% in the third quarter. US Bancorp DE now owns 3,725 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 311 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Trading Up 2.2 %

Shares of BERY opened at $73.11 on Friday. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $73.75. The stock has a fifty day moving average of $68.75 and a two-hundred day moving average of $68.24. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The company has a market capitalization of $8.47 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.31 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.70%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Analyst Ratings Changes

BERY has been the topic of several recent research reports. 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 research report on Thursday, November 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial raised their price objective on shares of 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 reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. Finally, Barclays raised their price target on 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. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.56.

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.