Magnetar Financial LLC Makes New $71.88 Million Investment in Berry Global Group, Inc. (NYSE:BERY)

Magnetar Financial LLC bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,111,520 shares of the industrial products company's stock, valued at approximately $71,882,000. Berry Global Group comprises approximately 1.7% of Magnetar Financial LLC's portfolio, making the stock its 12th largest position. Magnetar Financial LLC owned about 0.96% of Berry Global Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. increased its position 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 valued at $42,000 after acquiring an additional 306 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC increased 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 purchasing an additional 876 shares during the period. Harvest Fund Management Co. Ltd raised its position in Berry Global Group by 25,814.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 1,807 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Berry Global Group in the 4th quarter worth approximately $200,000. 95.36% of the stock is currently owned by institutional investors.

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Berry Global Group Stock Up 1.1 %

Shares of BERY traded up $0.73 during mid-day trading on Monday, reaching $68.84. The company had a trading volume of 1,686,972 shares, compared to its average volume of 1,183,627. 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 capitalization of $7.97 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The firm has a 50-day moving average price of $70.03 and a 200 day moving average price of $68.55. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24.

Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results 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 return on equity of 28.26% and a net margin of 3.99%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous 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. On average, sell-side analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on BERY. Citigroup restated a "neutral" rating and set a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. Barclays lifted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. UBS Group boosted their price target 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 began coverage on shares of Berry Global Group in a report on Monday, March 17th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $74.56.

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.