Berry Global Group, Inc. (NYSE:BERY) Stake Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,673 shares of the industrial products company’s stock after selling 5,846 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Berry Global Group worth $8,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. UMB Bank n.a. boosted its holdings in Berry Global Group by 89.0% during the fourth 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of 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 acquiring an additional 821 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 876 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Berry Global Group by 25,814.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 1,807 shares during the period. Finally, Townsquare Capital LLC purchased a new stake in shares of Berry Global Group during the third quarter valued at $201,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analyst Upgrades and Downgrades

BERY has been the topic of a number of analyst reports. StockNews.com began coverage on Berry Global Group in a research note on Tuesday. They issued a “buy” rating on the stock. Truist Financial lifted their target price on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group upped their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the company 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Stock Performance

BERY stock opened at $70.03 on Friday. The stock has a market cap of $8.11 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.54 and a beta of 1.13. 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 50 day simple moving average of $70.17 and a 200 day simple moving average of $68.57. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24.

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, 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.22 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 1.77%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 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.