Versor Investments LP Purchases 13,473 Shares of Berry Global Group, Inc. (NYSE:BERY)

Versor Investments LP lifted its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 43.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,806 shares of the industrial products company’s stock after buying an additional 13,473 shares during the period. Berry Global Group comprises 0.5% of Versor Investments LP’s investment portfolio, making the stock its 20th largest position. Versor Investments LP’s holdings in Berry Global Group were worth $2,898,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BERY. FMR LLC raised its stake in shares of Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Calamos Advisors LLC bought a new position in Berry Global Group during the 4th quarter worth approximately $35,568,000. State Street Corp grew its position in Berry Global Group by 10.4% during the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after acquiring an additional 360,857 shares during the last quarter. Goldentree Asset Management LP purchased a new position in Berry Global Group in the 3rd quarter worth approximately $24,288,000. Finally, EdgePoint Investment Group Inc. lifted its position in Berry Global Group by 2.2% in the third quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after purchasing an additional 336,186 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

BERY has been the topic of several recent analyst reports. UBS Group raised 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. JPMorgan Chase & Co. restated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research report 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. Citigroup reaffirmed a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays lifted their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group Trading Down 0.9 %

NYSE BERY opened at $71.93 on Thursday. The stock’s 50 day moving average is $67.94 and its 200 day moving average is $67.94. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $8.33 billion, a PE ratio of 17.94, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a twelve month low of $55.24 and a twelve month high of $73.31.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm earned $1.22 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Research 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 will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.72%. Berry Global Group’s payout ratio is presently 30.92%.

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.