ExodusPoint Capital Management LP Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

ExodusPoint Capital Management LP raised its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 701.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 169,691 shares of the industrial products company's stock after purchasing an additional 148,512 shares during the quarter. ExodusPoint Capital Management LP owned 0.15% of Berry Global Group worth $10,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BERY. UMB Bank n.a. lifted its holdings 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 valued at $42,000 after purchasing an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Berry Global Group by 3,569.6% during the fourth 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 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 valued at $69,000 after buying an additional 876 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Berry Global Group by 25,814.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company's stock worth $117,000 after acquiring an additional 1,807 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Berry Global Group by 277.9% during the fourth quarter. Headlands Technologies LLC now owns 2,793 shares of the industrial products company's stock valued at $181,000 after buying an additional 2,054 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts recently issued reports on BERY shares. StockNews.com initiated coverage on Berry Global Group in a research note on Thursday. They set a "buy" rating for the company. 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. Finally, Truist Financial upped their price objective 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. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $74.56.

Berry Global Group Price Performance

BERY traded down $1.40 on Thursday, reaching $63.60. 751,389 shares of the company's stock were exchanged, compared to its average volume of 1,269,623. Berry Global Group, Inc. has a twelve month low of $55.24 and a twelve month high of $74.24. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The stock has a market cap of $7.37 billion, a PE ratio of 15.85, a P/E/G ratio of 1.54 and a beta of 1.14. The stock's fifty day moving average price is $69.80 and its 200-day moving average price is $68.57.

Berry Global Group (NYSE:BERY - Get Free Report) last issued 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. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. Sell-side analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.31 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.95%. Berry Global Group's dividend payout ratio (DPR) is presently 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.