IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 2,700 Shares of Berry Global Group, Inc. (NYSE:BERY)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 45.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,300 shares of the industrial products company’s stock after selling 2,700 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Berry Global Group were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Berry Global Group by 41.7% during the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company’s stock worth $39,175,000 after buying an additional 178,287 shares in the last quarter. Mint Tower Capital Management B.V. acquired a new position in Berry Global Group in the 4th quarter worth about $323,000. Segall Bryant & Hamill LLC raised its position in Berry Global Group by 3.2% in the fourth quarter. Segall Bryant & Hamill LLC now owns 164,128 shares of the industrial products company’s stock valued at $10,614,000 after purchasing an additional 5,144 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Berry Global Group by 52.5% during the fourth quarter. LPL Financial LLC now owns 37,108 shares of the industrial products company’s stock valued at $2,400,000 after purchasing an additional 12,780 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Berry Global Group during the fourth quarter valued at about $2,238,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Down 0.8 %

Shares of Berry Global Group stock opened at $69.46 on Friday. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.54 and a beta of 1.13. The stock’s 50-day moving average is $70.20 and its 200 day moving average is $68.60. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $74.24.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. Equities research analysts anticipate 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 was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 annualized dividend and a dividend yield of 1.79%. Berry Global Group’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. StockNews.com initiated coverage on shares of Berry Global Group in a research note on Tuesday. They set a “buy” rating for the company. Finally, UBS Group boosted 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 note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and a consensus target price of $74.56.

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.