AlphaQuest LLC lifted its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 418.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,910 shares of the industrial products company's stock after buying an additional 36,247 shares during the quarter. Berry Global Group makes up 0.4% of AlphaQuest LLC's investment portfolio, making the stock its 17th largest position. AlphaQuest LLC's holdings in Berry Global Group were worth $2,904,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock worth $134,806,000 after purchasing an additional 27,437 shares during the last quarter. Sound Income Strategies LLC boosted its holdings 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. Hancock Whitney Corp acquired a new stake in Berry Global Group during the 3rd quarter worth approximately $1,065,000. Integrated Investment Consultants LLC acquired a new stake in shares of Berry Global Group in the third quarter worth $714,000. Finally, Barclays PLC raised its stake in shares of Berry Global Group by 87.1% in the 3rd 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 period. Hedge funds and other institutional investors own 95.36% of the company's stock.
Berry Global Group Stock Down 3.1 %
Shares of BERY traded down $2.21 during trading hours on Thursday, reaching $68.88. The company's stock had a trading volume of 2,150,658 shares, compared to its average volume of 1,198,805. The company has a 50 day moving average of $69.35 and a two-hundred day moving average of $68.44. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24.
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 (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm's revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. As a group, research analysts predict 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. Investors of record on Monday, March 3rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Monday, March 3rd. Berry Global Group's dividend payout ratio is presently 30.92%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Truist Financial boosted 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. Citigroup restated a "neutral" rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com started coverage on shares of Berry Global Group in a research note on Sunday. They set a "buy" rating on the stock. Barclays upped their price objective on shares of 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. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $74.56.
Check Out Our Latest Analysis on BERY
About Berry Global Group
(
Free Report)
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.
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