ExodusPoint Capital Management LP Has $10.97 Million Holdings in Berry Global Group, Inc. (NYSE:BERY)

ExodusPoint Capital Management LP lifted its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 701.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,691 shares of the industrial products company’s stock after purchasing an additional 148,512 shares during the quarter. ExodusPoint Capital Management LP owned 0.15% of Berry Global Group worth $10,974,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Berry Global Group during the 4th quarter worth approximately $91,526,000. Magnetar Financial LLC bought a new position in Berry Global Group during the 4th quarter valued at $71,882,000. Alpine Associates Management Inc. purchased a new position in Berry Global Group during the 4th quarter worth $38,323,000. Calamos Advisors LLC bought a new stake in shares of Berry Global Group in the 4th quarter worth $35,568,000. Finally, State Street Corp raised its holdings in shares of Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BERY has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Truist Financial upped their target price on Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Finally, StockNews.com initiated coverage on Berry Global Group in a report on Wednesday. They set a “buy” rating on the stock. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Price Performance

Berry Global Group stock opened at $66.34 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The business’s 50 day simple moving average is $70.31 and its 200 day simple moving average is $68.71. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $74.24. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last posted 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 return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current 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 dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is currently 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.