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

Versor Investments LP boosted its holdings in Berry Global Group, Inc. (NYSE:BERY) by 43.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 44,806 shares of the industrial products company’s stock after buying an additional 13,473 shares during the period. Berry Global Group makes up 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 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Berry Global Group by 1.4% during the fourth 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 in the last quarter. New York Life Investment Management LLC purchased a new position in Berry Global Group in the 4th quarter worth about $8,098,000. Illinois Municipal Retirement Fund lifted its stake in Berry Global Group by 19.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 51,440 shares of the industrial products company’s stock valued at $3,327,000 after acquiring an additional 8,342 shares during the period. Olympiad Research LP purchased a new stake in shares of Berry Global Group during the 4th quarter valued at about $1,450,000. Finally, Hudson Edge Investment Partners Inc. raised its holdings 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 purchasing an additional 1,416 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

NYSE BERY opened at $71.93 on Thursday. The business has a 50-day moving average price of $67.94 and a 200-day moving average price of $67.94. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth 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. 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 (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. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 EPS. As a group, equities research analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

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 paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BERY shares. Truist Financial lifted their price objective on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. StockNews.com initiated coverage on Berry Global Group in a research note on Friday, February 21st. They set a “buy” rating for the company. UBS Group increased 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 note on Friday, February 7th. Royal Bank of Canada boosted 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 report on Thursday, November 21st. Finally, Citigroup reiterated a “neutral” rating and issued a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.56.

Berry Global Group 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.