Alliancebernstein L.P. Sells 851,216 Shares of Berry Global Group, Inc. (NYSE:BERY)

Alliancebernstein L.P. lessened its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 65.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,066 shares of the industrial products company's stock after selling 851,216 shares during the period. Alliancebernstein L.P. owned 0.39% of Berry Global Group worth $29,558,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock valued at $134,806,000 after purchasing an additional 27,437 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company's stock valued at $4,715,000 after acquiring an additional 8,622 shares during the last quarter. Barclays PLC boosted its stake in Berry Global Group by 87.1% in the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock valued at $6,931,000 after acquiring an additional 47,476 shares during the last quarter. SG Americas Securities LLC grew its holdings in Berry Global Group by 333.1% during the 4th quarter. SG Americas Securities LLC now owns 9,697 shares of the industrial products company's stock worth $627,000 after acquiring an additional 7,458 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Berry Global Group by 71.0% during the 3rd quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company's stock valued at $2,129,000 after acquiring an additional 13,004 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

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Berry Global Group Stock Up 4.1 %

Shares of NYSE:BERY traded up $2.62 during trading on Friday, hitting $67.12. 2,656,284 shares of the company's stock traded hands, compared to its average volume of 1,286,835. The company has a 50-day moving average price of $69.69 and a 200-day moving average price of $68.53. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24. 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 company has a market cap of $7.77 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating 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 analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The business's revenue was up 2.2% on a year-over-year basis. As a group, research analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's dividend payout ratio is 30.92%.

Analyst Upgrades and Downgrades

BERY has been the topic of several recent research reports. Truist Financial raised their price target 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 started coverage on Berry Global Group in a report on Thursday. They set a "buy" rating on the stock. Finally, UBS Group upped their price target on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $74.56.

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.