Victory Capital Management Inc. Cuts Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Victory Capital Management Inc. lessened its stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 73.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,699 shares of the industrial products company's stock after selling 69,582 shares during the quarter. Victory Capital Management Inc.'s holdings in Berry Global Group were worth $1,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BERY. Charles Schwab Investment Management Inc. lifted its holdings in shares of Berry Global Group by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company's stock valued at $54,771,000 after purchasing an additional 11,010 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of 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 last quarter. Silphium Asset Management Ltd purchased a new stake in shares of Berry Global Group during the 4th quarter valued at $9,556,000. US Bancorp DE raised its stake in Berry Global Group by 133.2% in the 4th quarter. US Bancorp DE now owns 8,685 shares of the industrial products company's stock worth $562,000 after acquiring an additional 4,960 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in Berry Global Group in the 4th quarter worth $236,000. Institutional investors own 95.36% of the company's stock.

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Berry Global Group Stock Performance

Shares of BERY stock traded down $2.05 on Friday, hitting $68.13. The company had a trading volume of 2,117,919 shares, compared to its average volume of 1,180,874. The firm has a market cap of $7.89 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a 50-day moving average price of $69.98 and a 200-day moving average price of $68.54. 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 twelve month low of $55.24 and a twelve 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 for the quarter, beating 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 firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business earned $1.22 EPS. Berry Global Group's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 dividend yield of 1.82%. Berry Global Group's dividend payout ratio is presently 30.92%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com assumed coverage on Berry Global Group in a research note on Monday, March 17th. They issued a "buy" rating for the company. Barclays raised their target price on Berry Global Group from $64.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Truist Financial raised 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. Finally, UBS Group raised their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Berry Global Group currently has a consensus rating of "Hold" and a consensus 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.