Wolverine Asset Management LLC Acquires Shares of 12,600 Berry Global Group, Inc. (NYSE:BERY)

Wolverine Asset Management LLC acquired a new stake in Berry Global Group, Inc. (NYSE:BERY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,600 shares of the industrial products company’s stock, valued at approximately $815,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BERY. Greenleaf Trust lifted its stake in Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 149 shares during the last quarter. CIBC Asset Management Inc increased its position in Berry Global Group by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 170 shares during the period. M&T Bank Corp increased its position in Berry Global Group by 3.1% in the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 173 shares during the period. Creative Planning increased its position in Berry Global Group by 3.0% in the 3rd quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 198 shares during the period. Finally, UMB Bank n.a. increased its position in Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 306 shares during the period. Institutional investors own 95.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BERY. Royal Bank of Canada upped their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Citigroup reiterated a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group increased their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Friday. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. reiterated 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. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Trading Down 1.4 %

NYSE:BERY opened at $71.68 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The stock has a market capitalization 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 firm has a fifty day simple moving average of $67.59 and a two-hundred day simple moving average of $67.75. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $73.31.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping 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 analysts’ expectations of $2.35 billion. During the same period last year, the company posted $1.22 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. 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.