Duality Advisers LP Purchases Shares of 11,416 Berry Global Group, Inc. (NYSE:BERY)

Duality Advisers LP purchased a new stake in Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,416 shares of the industrial products company’s stock, valued at approximately $769,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BERY. Ancora Advisors LLC raised its stake in shares of Berry Global Group by 5.7% in the third quarter. Ancora Advisors LLC now owns 1,238,927 shares of the industrial products company’s stock worth $76,702,000 after acquiring an additional 66,787 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Berry Global Group by 2.3% in the third quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after acquiring an additional 22,137 shares during the last quarter. Mariner LLC raised its stake in shares of Berry Global Group by 7.8% in the third quarter. Mariner LLC now owns 949,817 shares of the industrial products company’s stock worth $58,803,000 after acquiring an additional 69,062 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Berry Global Group by 10.9% in the third quarter. William Blair Investment Management LLC now owns 764,503 shares of the industrial products company’s stock worth $47,330,000 after acquiring an additional 74,871 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Berry Global Group by 60.1% in the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after acquiring an additional 233,368 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jonathan F. Foster purchased 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the acquisition, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The acquisition was disclosed in a filing with the SEC, which is available 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 stock was acquired at an average price of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $112,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan F. Foster bought 1,000 shares of Berry Global Group stock in a transaction that occurred on 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 acquisition, the director now directly owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BERY. Mizuho dropped their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Wolfe Research began coverage on shares of Berry Global Group in a research note on Friday, March 1st. They set a “peer perform” rating for the company. UBS Group boosted their price target on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. TheStreet downgraded shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Finally, Truist Financial reissued a “hold” rating and set a $68.00 price target (down from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $72.00.

Berry Global Group Stock Up 1.0 %

Shares of NYSE:BERY opened at $56.91 on Thursday. Berry Global Group, Inc. has a 52 week low of $53.83 and a 52 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 company has a market capitalization of $6.60 billion, a PE ratio of 12.24, a PEG ratio of 0.77 and a beta of 1.25. The company has a 50 day moving average price of $58.83 and a two-hundred day moving average price of $61.45.

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

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is presently 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.