Picton Mahoney Asset Management Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Picton Mahoney Asset Management raised its holdings in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 26,366.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,457 shares of the industrial products company's stock after purchasing an additional 80,153 shares during the period. Picton Mahoney Asset Management owned 0.07% of Berry Global Group worth $5,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BERY. UMB Bank n.a. raised its position in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after buying an additional 306 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Berry Global Group by 3,569.6% in 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 raised its position in shares of Berry Global Group by 463.5% in 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. Townsquare Capital LLC acquired a new position in shares of Berry Global Group in the third quarter valued at approximately $201,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of Berry Global Group in the third quarter valued at approximately $206,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BERY shares. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. Citigroup reaffirmed a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, StockNews.com started coverage on shares of Berry Global Group in a research report on Monday. They set a "buy" rating for the company. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Berry Global Group has an average rating of "Hold" and a consensus target price of $74.56.

Berry Global Group Trading Down 0.6 %

Shares of Berry Global Group stock traded down $0.45 during trading hours on Thursday, hitting $70.17. The company's stock had a trading volume of 1,784,873 shares, compared to its average volume of 1,176,663. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. The business has a fifty day moving average of $69.85 and a 200 day moving average of $68.53. The company has a market capitalization of $8.13 billion, a PE ratio of 17.50, a P/E/G ratio of 1.54 and a beta of 1.13. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.77%. Berry Global Group's dividend payout ratio (DPR) is presently 30.92%.

About Berry Global Group

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.