Integrated Quantitative Investments LLC Acquires New Stake in Berry Global Group, Inc. (NYSE:BERY)

Integrated Quantitative Investments LLC acquired a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,300 shares of the industrial products company's stock, valued at approximately $343,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its holdings 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 worth $1,038,674,000 after purchasing an additional 336,186 shares during the period. State Street Corp raised its holdings in Berry Global Group by 10.4% in 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 acquiring an additional 360,857 shares in the last quarter. Geode Capital Management LLC grew its holdings in Berry Global Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company's stock worth $128,691,000 after acquiring an additional 6,833 shares in the last quarter. Norges Bank purchased a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $91,526,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $71,882,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Berry Global Group Stock Performance

NYSE BERY traded down $1.15 on Thursday, reaching $63.85. The stock had a trading volume of 876,316 shares, compared to its average volume of 1,750,772. The stock has a market cap of $7.39 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 12-month low of $55.24 and a 12-month high of $74.24. The business's 50-day moving average price is $69.80 and its 200 day moving average price is $68.57. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61.

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Berry Global Group (NYSE:BERY - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating 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 firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. Berry Global Group's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com started coverage on Berry Global Group in a report on Thursday. They issued a "buy" rating on the stock. UBS Group increased their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, Truist Financial boosted their target price 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $74.56.

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.