Water Island Capital LLC Acquires New Shares in Berry Global Group, Inc. (NYSE:BERY)

Water Island Capital LLC purchased a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 176,474 shares of the industrial products company's stock, valued at approximately $11,413,000. Berry Global Group comprises about 1.2% of Water Island Capital LLC's portfolio, making the stock its 27th largest holding. Water Island Capital LLC owned approximately 0.15% of Berry Global Group as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in shares of Berry Global Group by 8.3% during the 4th quarter. Sterling Capital Management LLC now owns 25,356 shares of the industrial products company's stock valued at $1,640,000 after acquiring an additional 1,937 shares during the last quarter. KRYGER CAPITAL Ltd purchased a new stake in Berry Global Group during the fourth quarter valued at $32,713,000. Treasurer of the State of North Carolina lifted its position in Berry Global Group by 1.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 57,834 shares of the industrial products company's stock valued at $3,740,000 after purchasing an additional 602 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Berry Global Group in the 4th quarter worth $8,352,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Berry Global Group by 10,599.3% in the 4th quarter. Renaissance Technologies LLC now owns 324,937 shares of the industrial products company's stock worth $21,014,000 after buying an additional 321,900 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently commented on BERY. Truist Financial increased their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a report on Monday, February 10th. UBS Group lifted their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, StockNews.com started coverage on Berry Global Group in a research report on Thursday, April 10th. They set a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Berry Global Group presently has a consensus rating of "Hold" and a consensus price target of $74.56.

Berry Global Group Trading Down 1.1 %

Berry Global Group stock traded down $0.77 during mid-day trading on Tuesday, hitting $67.52. The company's stock had a trading volume of 1,136,986 shares, compared to its average volume of 1,295,765. 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 company has a 50 day moving average of $69.58 and a 200-day moving average of $68.52. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $74.24. The stock has a market cap of $7.82 billion, a PE ratio of 16.84, a P/E/G ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY - Get Free Report) 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 firm had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The business's revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio is presently 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.