Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC decreased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,076 shares of the industrial products company's stock after selling 62,259 shares during the quarter. Cannell & Spears LLC owned about 0.24% of Berry Global Group worth $18,177,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. UMB Bank n.a. lifted its stake 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 worth $42,000 after purchasing an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock worth $55,000 after acquiring an additional 821 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock worth $69,000 after acquiring an additional 876 shares during the period. Harvest Fund Management Co. Ltd boosted its position in shares of Berry Global Group by 25,814.3% during the 4th 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 last quarter. Finally, Townsquare Capital LLC purchased a new stake in shares of Berry Global Group in the third quarter valued at about $201,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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Berry Global Group Stock Down 2.6 %

Shares of BERY traded down $1.81 during midday trading on Friday, hitting $67.00. The company had a trading volume of 1,129,745 shares, compared to its average volume of 1,690,924. Berry Global Group, Inc. has a 1 year low of $55.24 and a 1 year high of $74.24. The firm has a market capitalization of $7.76 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The company's 50-day simple moving average is $70.35 and its 200-day simple moving average is $68.72.

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 EPS 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 analysts' expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm's revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. As a group, sell-side analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 yield of 1.85%. Berry Global Group's dividend payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group raised their price target 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. Truist Financial upped their price target on Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Finally, StockNews.com began coverage on Berry Global Group in a research report on Wednesday. They set a "buy" rating for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.