Boussard & Gavaudan Investment Management LLP Buys Shares of 55,200 Berry Global Group, Inc. (NYSE:BERY)

Boussard & Gavaudan Investment Management LLP purchased a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 55,200 shares of the industrial products company's stock, valued at approximately $3,544,000.

A number of other hedge funds also recently modified their holdings of BERY. UMB Bank n.a. lifted its stake in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock worth $42,000 after purchasing an additional 306 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock worth $55,000 after buying an additional 821 shares during the period. Venturi Wealth Management LLC boosted its stake in Berry Global Group by 463.5% in the 4th 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 in the last quarter. Harvest Fund Management Co. Ltd grew its position in Berry Global Group by 25,814.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company's stock valued at $117,000 after acquiring an additional 1,807 shares during the period. Finally, Merit Financial Group LLC acquired a new position in Berry Global Group during the fourth quarter worth $200,000. Institutional investors own 95.36% of the company's stock.

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Berry Global Group Price Performance

Shares of Berry Global Group stock traded up $0.46 during midday trading on Tuesday, reaching $70.27. The company had a trading volume of 620,723 shares, compared to its average volume of 1,669,012. 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 stock has a fifty day simple moving average of $70.24 and a 200 day simple moving average of $68.67. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.76%. Berry Global Group's dividend payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Berry Global Group in a report on Tuesday, March 25th. They issued a "buy" rating on the stock. Truist Financial upped their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a research note on Monday, February 10th. Finally, UBS Group raised their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $74.56.

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.