Berry Global Group, Inc. (NYSE:BERY) Stock Position Reduced by EMC Capital Management

EMC Capital Management lessened its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 79.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,311 shares of the industrial products company's stock after selling 16,534 shares during the period. EMC Capital Management's holdings in Berry Global Group were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EdgePoint Investment Group Inc. raised 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 acquiring an additional 336,186 shares in the last quarter. State Street Corp increased its holdings 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 purchasing an additional 360,857 shares during the period. FMR LLC raised its stake in shares of Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock valued at $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Berry Global Group by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock worth $134,806,000 after purchasing an additional 27,437 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Berry Global Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 835,915 shares of the industrial products company's stock valued at $56,826,000 after buying an additional 18,736 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Trading Down 1.6 %

BERY stock traded down $1.09 during mid-day trading on Monday, reaching $66.83. 1,181,764 shares of the stock traded hands, compared to its average volume of 1,149,805. Berry Global Group, Inc. has a 52-week low of $54.06 and a 52-week high of $73.31. The stock's fifty day moving average is $67.56 and its 200-day moving average is $67.09. The company has a market cap of $7.73 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.45 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 2.08.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group's dividend payout ratio is 28.25%.

Analyst Upgrades and Downgrades

BERY has been the subject of a number of research analyst reports. UBS Group reduced their price target on shares of Berry Global Group from $75.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. StockNews.com started coverage on Berry Global Group in a research report on Tuesday, January 28th. They issued a "buy" rating for the company. Royal Bank of Canada lifted their price target on Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. Barclays upped their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $76.00 target price (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group presently has a consensus rating of "Hold" and an average price target of $73.30.

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.