Diametric Capital LP Makes New $673,000 Investment in Berry Global Group, Inc. (NYSE:BERY)

Diametric Capital LP purchased a new stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,408 shares of the industrial products company's stock, valued at approximately $673,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. boosted its stake in Berry Global Group by 2.2% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company's stock valued at $1,038,674,000 after purchasing an additional 336,186 shares during the last quarter. State Street Corp boosted its position in shares of Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company's stock valued at $260,487,000 after buying an additional 360,857 shares during the last quarter. FMR LLC increased its holdings in Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock worth $258,821,000 after buying an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC raised its position in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock worth $134,806,000 after buying an additional 27,437 shares during the last quarter. Finally, Norges Bank bought a new position in Berry Global Group during the 4th quarter valued at about $91,526,000. Institutional investors own 95.36% of the company's stock.

Remove Ads

Berry Global Group Stock Performance

Shares of NYSE BERY traded down $2.47 during trading on Friday, hitting $66.34. The company had a trading volume of 2,319,155 shares, compared to its average volume of 1,247,411. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24. 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 firm has a market capitalization of $7.68 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The stock has a 50 day simple moving average of $70.31 and a 200 day simple moving average of $68.72.

Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The company had revenue of $2.39 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. As a group, analysts anticipate 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 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 was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.87%. Berry Global Group's payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BERY. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Wednesday. They set a "buy" rating on the stock. Truist Financial raised their price target on 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 upped their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $74.56.

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.