Canada Pension Plan Investment Board Purchases Shares of 22,600 Berry Global Group, Inc. (NYSE:BERY)

Canada Pension Plan Investment Board bought a new position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 22,600 shares of the industrial products company's stock, valued at approximately $1,462,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Berry Global Group in the 4th quarter worth about $91,526,000. Magnetar Financial LLC acquired a new position in Berry Global Group in the fourth quarter valued at approximately $71,882,000. Alpine Associates Management Inc. bought a new stake in shares of Berry Global Group in the fourth quarter valued at about $38,323,000. Calamos Advisors LLC bought a new stake in shares of Berry Global Group in the 4th quarter valued at about $35,568,000. Finally, KRYGER CAPITAL Ltd bought a new position in Berry Global Group in the 4th quarter valued at about $32,713,000. 95.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group lifted their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Saturday. They issued a "buy" rating for the company. Finally, Truist Financial dropped their price objective on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of "Hold" and an average target price of $75.13.

Berry Global Group Stock Performance

BERY traded down $2.61 during midday trading on Tuesday, reaching $67.01. The company had a trading volume of 1,078,877 shares, compared to its average volume of 1,316,412. The company has a market cap of $7.76 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 1 year low of $56.60 and a 1 year 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 business has a 50-day moving average of $69.21 and a two-hundred day moving average of $68.62.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. As a group, equities research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, March 3rd. Berry Global Group's payout ratio is currently 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.