Arrowstreet Capital Limited Partnership Sells 66,981 Shares of Berry Global Group, Inc. (NYSE:BERY)

Arrowstreet Capital Limited Partnership lessened its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 17.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 319,187 shares of the industrial products company's stock after selling 66,981 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.28% of Berry Global Group worth $20,642,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its position in Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 306 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock valued at $55,000 after buying an additional 821 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock valued at $69,000 after buying an additional 876 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Berry Global Group by 25,814.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company's stock worth $117,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Berry Global Group in the 3rd quarter worth about $201,000. Institutional investors own 95.36% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial boosted their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a report on Monday, February 10th. StockNews.com assumed coverage on Berry Global Group in a report on Wednesday, April 2nd. They set a "buy" rating for the company. Finally, UBS Group increased their price target on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.56.

Berry Global Group Stock Performance

NYSE:BERY traded down $2.52 during trading on Tuesday, reaching $61.52. The company's stock had a trading volume of 1,972,050 shares, compared to its average volume of 1,257,467. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The firm has a 50 day moving average of $69.92 and a 200-day moving average of $68.61. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61.

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 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.35 billion. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. Research analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 2.02%. Berry Global Group's payout ratio is currently 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.