ClearAlpha Technologies LP Invests $3.50 Million in Berry Global Group, Inc. (NYSE:BERY)

ClearAlpha Technologies LP acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 54,135 shares of the industrial products company's stock, valued at approximately $3,501,000. Berry Global Group comprises 2.4% of ClearAlpha Technologies LP's investment portfolio, making the stock its 13th biggest holding.

Several other large investors have also bought and sold shares of BERY. Greenleaf Trust raised its position in Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock valued at $285,000 after buying an additional 149 shares during the last quarter. Quadrant Capital Group LLC lifted its stake 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 acquiring an additional 165 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Berry Global Group by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company's stock valued at $229,000 after purchasing an additional 170 shares during the last quarter. Commonwealth Equity Services LLC boosted 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 worth $649,000 after acquiring an additional 241 shares during the period. Finally, UMB Bank n.a. boosted its position 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. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com began coverage on Berry Global Group in a report on Friday, April 18th. They issued a "buy" rating on the stock. Truist Financial lowered their price target on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday. Finally, UBS Group increased 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $75.13.

Berry Global Group Trading Down 1.3 %

NYSE BERY traded down $0.90 during mid-day trading on Friday, reaching $68.89. 1,480,551 shares of the stock were exchanged, compared to its average volume of 1,305,402. The stock has a market cap of $7.98 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a one year low of $56.19 and a one year high of $74.24. The stock has a 50 day simple moving average of $69.29 and a 200-day simple moving average of $68.57.

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 for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company posted $1.22 EPS. The business's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The business also recently disclosed 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 was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.80%. Berry Global Group's dividend payout ratio is currently 30.92%.

Berry Global Group 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.