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

Olympiad Research LP bought a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,418 shares of the industrial products company’s stock, valued at approximately $1,450,000. Berry Global Group comprises approximately 1.5% of Olympiad Research LP’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its holdings in Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after buying an additional 1,055,756 shares during the last quarter. Calamos Advisors LLC acquired a new position in Berry Global Group in the 4th quarter valued at approximately $35,568,000. State Street Corp raised its stake in shares of Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after acquiring an additional 360,857 shares during the last quarter. Goldentree Asset Management LP acquired a new position in shares of Berry Global Group during the third quarter worth $24,288,000. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Berry Global Group by 2.2% during the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock worth $1,038,674,000 after purchasing an additional 336,186 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Price Performance

Berry Global Group stock opened at $71.68 on Friday. 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. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $73.31. 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 stock’s 50 day moving average price is $67.59 and its two-hundred day moving average price is $67.75.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. On average, equities analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid 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 1.73%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

BERY has been the subject of several analyst reports. Truist Financial raised their target price on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. StockNews.com began coverage on Berry Global Group in a research report on Friday. They set a “buy” rating for the company. Barclays lifted their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada increased their target price 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. Finally, Citigroup restated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.