Federated Hermes Inc. Sells 194,778 Shares of Berry Global Group, Inc. (NYSE:BERY)

Federated Hermes Inc. cut its position in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 92.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,550 shares of the industrial products company's stock after selling 194,778 shares during the period. Federated Hermes Inc.'s holdings in Berry Global Group were worth $1,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Berry Global Group in the 3rd quarter valued at approximately $440,000. Barclays PLC boosted its position in shares of Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock valued at $6,931,000 after buying an additional 47,476 shares during the last quarter. M&T Bank Corp increased its holdings in Berry Global Group by 3.1% in the 3rd quarter. M&T Bank Corp now owns 5,832 shares of the industrial products company's stock worth $396,000 after buying an additional 173 shares in the last quarter. Geode Capital Management LLC lifted its stake in Berry Global Group by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company's stock valued at $134,806,000 after acquiring an additional 27,437 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Berry Global Group during the 3rd quarter valued at about $389,000. Institutional investors own 95.36% of the company's stock.

Berry Global Group Stock Performance

Shares of BERY stock traded down $0.52 during trading hours on Monday, reaching $67.08. 1,438,136 shares of the company traded hands, compared to its average volume of 1,300,047. Berry Global Group, Inc. has a 12-month low of $55.68 and a 12-month high of $74.24. The company has a market cap of $7.77 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.54 and a beta of 1.14. The firm has a 50-day moving average price of $69.36 and a 200 day moving average price of $68.54. 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 (NYSE:BERY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the prior year, the company posted $1.22 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's dividend payout ratio (DPR) is 30.92%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BERY. 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 report on Friday, February 7th. StockNews.com started coverage on Berry Global Group in a report on Friday. They issued a "buy" rating for the company. Finally, Truist Financial increased their target price on Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a report on Monday, February 10th. 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, Berry Global Group has an average rating of "Hold" and an average price target of $75.75.

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.