Diametric Capital LP Purchases New Holdings in Berry Global Group, Inc. (NYSE:BERY)

Diametric Capital LP acquired a new position in Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,408 shares of the industrial products company’s stock, valued at approximately $673,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BERY. Norges Bank bought a new position in Berry Global Group during the 4th quarter valued at approximately $91,526,000. Magnetar Financial LLC bought a new position in shares of Berry Global Group during the fourth quarter valued at $71,882,000. FMR LLC raised its position in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after purchasing an additional 1,055,756 shares during the last quarter. Alpine Associates Management Inc. bought a new position in Berry Global Group in the 4th quarter worth about $38,323,000. Finally, Calamos Advisors LLC purchased a new stake in Berry Global Group during the 4th quarter valued at about $35,568,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Up 0.6 %

Berry Global Group stock opened at $69.91 on Tuesday. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $74.24. The stock has a fifty day moving average of $70.24 and a 200 day moving average of $68.67. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The stock has a market cap of $8.10 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business’s revenue for the quarter 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. As a group, sell-side analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. Berry Global Group’s dividend payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BERY. 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 research note on Friday, February 7th. Truist Financial increased their target price on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Finally, StockNews.com assumed coverage on Berry Global Group in a research note on Tuesday, March 25th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.