592,600 Shares in Berry Global Group, Inc. (NYSE:BERY) Bought by Alpine Associates Management Inc.

Alpine Associates Management Inc. bought a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 592,600 shares of the industrial products company’s stock, valued at approximately $38,323,000. Berry Global Group comprises approximately 2.3% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 10th biggest position. Alpine Associates Management Inc. owned 0.51% of Berry Global Group as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of 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 acquiring an additional 306 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC grew its stake in Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares during the period. Capital Performance Advisors LLP acquired a new stake in Berry Global Group during the third quarter worth approximately $75,000. Finally, Townsquare Capital LLC acquired a new stake in Berry Global Group in the third quarter valued at approximately $201,000. 95.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BERY shares. Citigroup reissued a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. UBS Group raised their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada raised their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. StockNews.com started coverage on Berry Global Group in a research note on Sunday. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Seven equities research 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, Berry Global Group has an average rating of “Hold” and an average target price of $74.56.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $73.11 on Friday. The business’s fifty day simple moving average is $68.91 and its 200 day simple moving average is $68.30. The firm has a market capitalization of $8.47 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. Berry Global Group, Inc. has a 12 month low of $55.24 and a 12 month high of $73.75. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. Berry Global Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. As a group, analysts anticipate 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 will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.70%. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

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.