ExodusPoint Capital Management LP Buys 148,512 Shares of Berry Global Group, Inc. (NYSE:BERY)

ExodusPoint Capital Management LP grew its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 701.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 169,691 shares of the industrial products company’s stock after acquiring an additional 148,512 shares during the period. ExodusPoint Capital Management LP’s holdings in Berry Global Group were worth $10,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BERY. 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 shares of Berry Global Group in the fourth quarter worth $71,882,000. Alpine Associates Management Inc. purchased a new stake in shares of Berry Global Group in the fourth quarter worth $38,323,000. Calamos Advisors LLC bought a new stake in Berry Global Group during the fourth quarter valued at $35,568,000. Finally, State Street Corp grew its position in Berry Global Group by 10.4% during the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock worth $260,487,000 after buying an additional 360,857 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BERY shares. StockNews.com began coverage on Berry Global Group in a report on Wednesday. They issued a “buy” rating on the stock. UBS Group boosted their price target 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. Finally, Truist Financial raised their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Trading Down 3.6 %

Shares of BERY stock opened at $66.34 on Friday. The business has a 50-day moving average of $70.31 and a 200 day moving average of $68.71. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a 1-year low of $55.24 and a 1-year high of $74.24. The stock has a market capitalization of $7.68 billion, a PE ratio of 16.54, a P/E/G ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations 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 was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $1.22 earnings per share. As a group, sell-side analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is 30.92%.

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.