Wedge Capital Management L L P NC Purchases 18,049 Shares of Berry Global Group, Inc. (NYSE:BERY)

Wedge Capital Management L L P NC raised its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 20.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,062 shares of the industrial products company’s stock after buying an additional 18,049 shares during the quarter. Wedge Capital Management L L P NC owned about 0.09% of Berry Global Group worth $7,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in shares of Berry Global Group by 69.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 224 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after buying an additional 436 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Berry Global Group in the 3rd quarter worth $101,000. 1620 Investment Advisors Inc. acquired a new position in shares of Berry Global Group during the third quarter valued at about $102,000. Finally, CWM LLC increased its position in shares of Berry Global Group by 200.0% in the 4th quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 1,050 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BERY. Truist Financial reissued a “hold” rating and set a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a report on Wednesday, March 27th. TheStreet lowered Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Robert W. Baird reaffirmed a “neutral” rating and set a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. UBS Group increased their price objective on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Wolfe Research started coverage on Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.00.

Insiders Place Their Bets

In other news, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $58.49 per share, with a total value of $58,490.00. Following the purchase, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Berry Global Group news, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $112,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan F. Foster acquired 1,000 shares of Berry Global Group stock in a transaction on Monday, February 12th. The shares were bought at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the purchase, the director now owns 5,728 shares of the company’s stock, valued at $335,030.72. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by insiders.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $56.37 on Wednesday. The stock’s 50-day simple moving average is $58.87 and its 200-day simple moving average is $61.45. Berry Global Group, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $69.93. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The firm has a market capitalization of $6.53 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 7.38 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.95%. Berry Global Group’s payout ratio is currently 23.66%.

About Berry Global Group

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.