Rockefeller Capital Management L.P. Decreases Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Rockefeller Capital Management L.P. reduced its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 86.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,930 shares of the industrial products company's stock after selling 378,111 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.05% of Berry Global Group worth $3,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Berry Global Group by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company's stock valued at $128,691,000 after purchasing an additional 6,833 shares during the period. Norges Bank purchased a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $91,526,000. Magnetar Financial LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at $71,882,000. Charles Schwab Investment Management Inc. grew its stake in shares of Berry Global Group by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company's stock worth $54,771,000 after purchasing an additional 11,010 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Berry Global Group by 41.7% in the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company's stock valued at $39,175,000 after buying an additional 178,287 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

NYSE BERY traded up $1.13 during trading hours on Thursday, hitting $69.64. The company had a trading volume of 798,367 shares, compared to its average volume of 1,300,147. The firm has a market cap of $8.06 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a fifty-two week low of $55.68 and a fifty-two week high of $74.24. The business has a fifty day simple moving average of $69.30 and a 200-day simple moving average of $68.55.

Berry Global Group (NYSE:BERY - Get Free Report) last released its 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. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. Equities analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.78%. Berry Global Group's dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BERY shares. Truist Financial reduced their price objective on shares of Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday. UBS Group upped their target price on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, StockNews.com initiated coverage on Berry Global Group in a research report on Friday, April 18th. They set a "buy" rating on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.