Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 81.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,276 shares of the industrial products company's stock after selling 49,131 shares during the quarter. Prudential Financial Inc.'s holdings in Berry Global Group were worth $729,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Magnetar Financial LLC purchased a new stake in shares of Berry Global Group during the fourth quarter worth about $71,882,000. Alpine Associates Management Inc. acquired a new stake in Berry Global Group in the 4th quarter worth about $38,323,000. Calamos Advisors LLC purchased a new stake in Berry Global Group during the 4th quarter worth approximately $35,568,000. State Street Corp raised its holdings in shares of Berry Global Group by 10.4% during 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 during the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Berry Global Group by 1,672.5% in the fourth quarter. Alberta Investment Management Corp now owns 303,100 shares of the industrial products company's stock valued at $19,601,000 after acquiring an additional 286,000 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on BERY. Truist Financial boosted their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a "hold" rating in a research report on Monday, February 10th. UBS Group upped their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, StockNews.com assumed coverage on shares of Berry Global Group in a research note on Thursday. They issued a "buy" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $74.56.

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Berry Global Group Stock Up 4.1 %

Shares of Berry Global Group stock traded up $2.62 during trading on Friday, hitting $67.12. 2,656,284 shares of the stock were exchanged, compared to its average volume of 1,287,082. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The firm's 50-day moving average price is $69.69 and its 200 day moving average price is $68.53. 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, Inc. has a 12-month low of $55.24 and a 12-month high of $74.24.

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

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid 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 1.85%. Berry Global Group's dividend payout ratio is currently 30.92%.

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.