Versor Investments LP Raises Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Versor Investments LP lifted its stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) by 43.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,806 shares of the industrial products company's stock after purchasing an additional 13,473 shares during the quarter. Berry Global Group comprises approximately 0.5% of Versor Investments LP's holdings, making the stock its 20th largest position. Versor Investments LP's holdings in Berry Global Group were worth $2,898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BERY. Oppenheimer Asset Management Inc. grew its position in Berry Global Group by 1.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 115,485 shares of the industrial products company's stock valued at $7,468,000 after purchasing an additional 1,571 shares during the last quarter. New York Life Investment Management LLC bought a new position in shares of Berry Global Group in the fourth quarter worth approximately $8,098,000. Illinois Municipal Retirement Fund lifted its stake in shares of Berry Global Group by 19.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 51,440 shares of the industrial products company's stock worth $3,327,000 after buying an additional 8,342 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $1,450,000. Finally, Hudson Edge Investment Partners Inc. increased its position in shares of Berry Global Group by 1.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 80,641 shares of the industrial products company's stock valued at $5,215,000 after acquiring an additional 1,416 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.

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Berry Global Group Stock Performance

Shares of NYSE:BERY traded down $0.10 during trading on Monday, hitting $71.76. The company's stock had a trading volume of 3,685,095 shares, compared to its average volume of 1,160,927. The company has a 50-day moving average of $68.24 and a 200-day moving average of $68.10. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $73.79.

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 earnings per share for the quarter, topping 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 business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm earned $1.22 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group's payout ratio is 30.92%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BERY shares. Barclays upped their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Truist Financial upped their price target on Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a report on Monday, February 10th. UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research note on Thursday, November 21st. Finally, Citigroup reaffirmed a "neutral" rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.