CenterBook Partners LP Decreases Stake in Berry Global Group, Inc. (NYSE:BERY)

CenterBook Partners LP lessened its holdings in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 47.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,725 shares of the industrial products company's stock after selling 6,882 shares during the quarter. CenterBook Partners LP's holdings in Berry Global Group were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Greenleaf Trust increased its stake in shares of Berry Global Group by 3.5% in the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock worth $285,000 after acquiring an additional 149 shares during the period. Quadrant Capital Group LLC boosted its holdings in Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 165 shares during the last quarter. CIBC Asset Management Inc grew its position in Berry Global Group by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company's stock worth $229,000 after purchasing an additional 170 shares during the period. M&T Bank Corp grew its position in Berry Global Group by 3.1% during the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company's stock worth $396,000 after purchasing an additional 173 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Berry Global Group by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company's stock valued at $649,000 after buying an additional 241 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

BERY has been the topic of several analyst reports. UBS Group raised their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. StockNews.com began coverage on shares of Berry Global Group in a research note on Thursday, April 10th. They set a "buy" rating on the stock. Finally, Truist Financial lifted their target price 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.56.

Berry Global Group Price Performance

Shares of BERY stock traded down $0.77 during trading hours on Tuesday, hitting $67.52. 1,136,986 shares of the company's stock were exchanged, compared to its average volume of 1,295,765. The firm has a 50 day moving average of $69.58 and a two-hundred day moving average of $68.52. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The firm has a market cap of $7.82 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.54 and a beta of 1.14. 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 posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) 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 business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm posted $1.22 earnings per share. The company's revenue was up 2.2% compared to the same quarter last year. Sell-side 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's payout ratio is 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.