Hancock Whitney Corp Trims Stake in Berry Global Group, Inc. (NYSE:BERY)

Hancock Whitney Corp decreased its stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 46.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,456 shares of the industrial products company's stock after selling 7,216 shares during the period. Hancock Whitney Corp's holdings in Berry Global Group were worth $547,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Khrom Capital Management LLC increased its position in Berry Global Group by 14.8% during the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company's stock worth $105,413,000 after purchasing an additional 210,046 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Berry Global Group by 157.6% during the fourth quarter. Hsbc Holdings PLC now owns 16,394 shares of the industrial products company's stock worth $1,059,000 after buying an additional 10,029 shares in the last quarter. ClearAlpha Technologies LP acquired a new position in shares of Berry Global Group in the fourth quarter valued at approximately $3,501,000. TD Waterhouse Canada Inc. lifted its stake in shares of Berry Global Group by 6.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 35,116 shares of the industrial products company's stock valued at $2,272,000 after buying an additional 2,221 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Berry Global Group by 29.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,486 shares of the industrial products company's stock worth $484,000 after acquiring an additional 1,686 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BERY has been the subject of several analyst reports. Truist Financial cut their price target on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. StockNews.com initiated coverage on Berry Global Group in a research report on Saturday. They set a "buy" rating on the stock. Finally, UBS Group lifted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Six 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 stock currently has a consensus rating of "Hold" and a consensus price target of $75.13.

Berry Global Group Stock Down 1.3 %

BERY opened at $68.89 on Friday. Berry Global Group, Inc. has a 1 year low of $56.60 and a 1 year high of $74.24. The firm has a 50 day moving average price of $69.24 and a 200 day moving average price of $68.60. 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 market cap of $7.98 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) 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 net margin of 3.99% and a return on equity of 28.26%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Sell-side analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group's payout ratio is 30.92%.

About Berry Global Group

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.

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