First Trust Advisors LP Sells 38,213 Shares of Berry Global Group, Inc. (NYSE:BERY)

First Trust Advisors LP lowered its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344,304 shares of the industrial products company's stock after selling 38,213 shares during the quarter. First Trust Advisors LP owned approximately 0.30% of Berry Global Group worth $22,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BERY. UMB Bank n.a. lifted its holdings in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of 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 worth $48,000 after acquiring an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Berry Global Group by 3,569.6% in 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 lifted its holdings in shares of Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock worth $69,000 after acquiring an additional 876 shares during the last quarter. Finally, Atlas Capital Advisors Inc. lifted its holdings in shares of Berry Global Group by 7,390.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company's stock worth $107,000 after acquiring an additional 1,626 shares during the last quarter. Institutional investors own 95.36% of the company's stock.

Berry Global Group Trading Down 2.8 %

Shares of BERY stock traded down $1.98 during trading hours on Tuesday, hitting $67.64. 18,809,857 shares of the company were exchanged, compared to its average volume of 1,386,520. The firm has a market cap of $7.83 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a fifty-two week low of $56.60 and a fifty-two week 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 company has a 50 day simple moving average of $69.21 and a two-hundred day simple moving average of $68.62.

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 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm posted $1.22 EPS. The company's quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

BERY has been the subject of several recent research reports. Truist Financial lowered their price objective on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. 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 note on Friday, February 7th. Finally, StockNews.com initiated coverage on Berry Global Group in a research note on Saturday. They issued a "buy" rating for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $75.13.

Berry Global Group Company 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.