AlphaQuest LLC Has $2.90 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

AlphaQuest LLC increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 418.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,910 shares of the industrial products company’s stock after buying an additional 36,247 shares during the quarter. Berry Global Group comprises about 0.4% of AlphaQuest LLC’s portfolio, making the stock its 17th biggest position. AlphaQuest LLC’s holdings in Berry Global Group were worth $2,904,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BERY. UMB Bank n.a. raised its stake in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after buying an additional 306 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after buying an additional 821 shares during the period. Venturi Wealth Management LLC raised its stake in Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after buying an additional 876 shares during the period. Capital Performance Advisors LLP acquired a new position in Berry Global Group during the 3rd quarter worth approximately $75,000. Finally, Merit Financial Group LLC acquired a new position in Berry Global Group during the 4th quarter worth approximately $200,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BERY. StockNews.com assumed coverage on Berry Global Group in a research report on Sunday. They set a “buy” rating on the stock. Royal Bank of Canada lifted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Barclays upped their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Truist Financial raised their price target 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Price Performance

BERY opened at $73.11 on Friday. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $73.75. The firm has a 50-day moving average of $68.91 and a 200 day moving average of $68.30. 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 firm has a market cap of $8.47 billion, a P/E ratio of 18.23, a PEG ratio of 1.54 and a beta of 1.13.

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, beating 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 during 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. On average, research analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is currently 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.