Olympiad Research LP Invests $1.45 Million in Berry Global Group, Inc. (NYSE:BERY)

Olympiad Research LP bought a new stake in Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,418 shares of the industrial products company’s stock, valued at approximately $1,450,000. Berry Global Group comprises 1.5% of Olympiad Research LP’s portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised its position in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 306 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 876 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Berry Global Group in the 3rd quarter valued at about $75,000. Merit Financial Group LLC acquired a new stake in Berry Global Group in the 4th quarter valued at about $200,000. Finally, Townsquare Capital LLC bought a new position in Berry Global Group during the third quarter worth about $201,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Down 1.4 %

Shares of BERY opened at $71.68 on Friday. 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 52-week low of $55.24 and a 52-week high of $73.31. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.57 and a beta of 1.15. The business’s fifty day moving average is $67.59 and its 200-day moving average is $67.75.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion for 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 earnings per share. Equities analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is 30.92%.

Analyst Ratings Changes

BERY has been the topic of several research analyst reports. StockNews.com started coverage on Berry Global Group in a research note on Friday. They issued a “buy” rating on the stock. Truist Financial increased their price target on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Barclays upped their price objective on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, UBS Group boosted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.