Hsbc Holdings PLC Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Hsbc Holdings PLC boosted its stake in Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 174.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,955 shares of the industrial products company’s stock after purchasing an additional 8,874 shares during the quarter. Hsbc Holdings PLC’s holdings in Berry Global Group were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pictet Asset Management SA grew its position in Berry Global Group by 8.4% during the third quarter. Pictet Asset Management SA now owns 9,003 shares of the industrial products company’s stock valued at $419,000 after acquiring an additional 700 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Berry Global Group by 58.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 219,388 shares of the industrial products company’s stock valued at $10,208,000 after acquiring an additional 81,060 shares during the last quarter. CenterBook Partners LP grew its position in Berry Global Group by 34.8% during the third quarter. CenterBook Partners LP now owns 19,514 shares of the industrial products company’s stock valued at $908,000 after acquiring an additional 5,041 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Berry Global Group by 7.1% during the third quarter. Envestnet Asset Management Inc. now owns 215,620 shares of the industrial products company’s stock valued at $10,033,000 after acquiring an additional 14,214 shares during the last quarter. Finally, Dakota Wealth Management grew its position in Berry Global Group by 10.1% during the third quarter. Dakota Wealth Management now owns 15,855 shares of the industrial products company’s stock valued at $738,000 after acquiring an additional 1,456 shares during the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Berry Global Group

In other news, EVP Jason K. Greene sold 10,000 shares of Berry Global Group stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now owns 250 shares of the company’s stock, valued at approximately $15,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial cut shares of Berry Global Group from a “buy” rating to a “hold” rating and set a $70.00 price target on the stock. in a research report on Thursday, January 5th. Morgan Stanley raised their target price on shares of Berry Global Group from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. Credit Suisse Group cut their target price on shares of Berry Global Group from $78.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, December 6th. StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company raised their price target on Berry Global Group from $68.00 to $75.00 in a research note on Monday, February 6th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.75.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $63.89 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.14 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $7.76 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.85 and a beta of 1.17. The business has a fifty day simple moving average of $61.47 and a two-hundred day simple moving average of $56.12. Berry Global Group, Inc. has a 12 month low of $44.52 and a 12 month high of $66.21.

Berry Global Group (NYSE:BERY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.34 billion. Berry Global Group had a return on equity of 30.05% and a net margin of 5.37%. Berry Global Group’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, equities analysts forecast that Berry Global Group, Inc. will post 7.43 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, February 28th. Berry Global Group’s dividend payout ratio is presently 17.30%.

Berry Global Group Company Profile

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Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.