592,600 Shares in Berry Global Group, Inc. (NYSE:BERY) Bought by Alpine Associates Management Inc.

Alpine Associates Management Inc. purchased a new position in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 592,600 shares of the industrial products company's stock, valued at approximately $38,323,000. Berry Global Group makes up approximately 2.3% of Alpine Associates Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Alpine Associates Management Inc. owned about 0.51% of Berry Global Group as of its most recent SEC filing.

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

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Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BERY shares. Barclays boosted their target price on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. UBS Group increased their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Citigroup reaffirmed a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada increased their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.56.

Berry Global Group Stock Down 3.1 %

Shares of BERY traded down $2.21 during midday trading on Thursday, reaching $68.88. 2,150,658 shares of the stock were exchanged, compared to its average volume of 1,198,805. The company has a market capitalization of $7.98 billion, a P/E ratio of 17.18, a PEG ratio of 1.54 and a beta of 1.13. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24. The company's 50 day moving average is $69.35 and its two-hundred day moving average is $68.44.

Berry Global Group (NYSE:BERY - Get Free Report) 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. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company 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 earned $1.22 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, March 3rd. Berry Global Group's payout ratio is 30.92%.

Berry Global Group Company 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.