Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 75.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,237 shares of the industrial products company's stock after selling 183,124 shares during the period. Brandywine Global Investment Management LLC owned about 0.05% of Berry Global Group worth $3,896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BERY. Cerity Partners LLC increased its stake in Berry Global Group by 171.2% during the 3rd quarter. Cerity Partners LLC now owns 14,316 shares of the industrial products company's stock worth $973,000 after buying an additional 9,037 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Berry Global Group by 36.2% in the third quarter. BNP Paribas Financial Markets now owns 14,408 shares of the industrial products company's stock worth $979,000 after acquiring an additional 3,830 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of Berry Global Group during the third quarter worth approximately $201,000. Quantinno Capital Management LP raised its stake in Berry Global Group by 41.2% in the 3rd quarter. Quantinno Capital Management LP now owns 30,419 shares of the industrial products company's stock valued at $2,068,000 after purchasing an additional 8,875 shares during the last quarter. Finally, State Street Corp raised its stake in Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company's stock valued at $260,487,000 after purchasing an additional 360,857 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 Trading Down 3.6 %

NYSE:BERY traded down $2.47 on Friday, hitting $66.34. The stock had a trading volume of 2,319,155 shares, compared to its average volume of 1,247,411. The company has a fifty day moving average price of $70.31 and a two-hundred day moving average price of $68.73. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. 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 stock has a market cap of $7.68 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The company 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 for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. Equities research analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's payout ratio is 30.92%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BERY. StockNews.com began coverage on shares of Berry Global Group in a report on Wednesday. They set a "buy" rating for the company. UBS Group upped their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Truist Financial increased their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group currently has an average rating of "Hold" and a consensus price target of $74.56.

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.