Brandywine Global Investment Management LLC Reduces Position in Berry Global Group, Inc. (NYSE:BERY)

Brandywine Global Investment Management LLC trimmed its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 75.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,237 shares of the industrial products company’s stock after selling 183,124 shares during the period. Brandywine Global Investment Management LLC’s holdings in Berry Global Group were worth $3,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BERY. UMB Bank n.a. grew its stake 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 valued at $42,000 after buying an additional 306 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in 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 valued at $55,000 after acquiring an additional 821 shares during the period. Venturi Wealth Management LLC grew its position in 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 valued at $69,000 after acquiring an additional 876 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in Berry Global Group by 25,814.3% in 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 bought a new stake in shares of Berry Global Group during the third quarter worth $201,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BERY shares. Truist Financial raised their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. UBS Group raised their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, StockNews.com assumed coverage on Berry Global Group in a report on Wednesday. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group has an average rating of “Hold” and a consensus target price of $74.56.

Berry Global Group Price Performance

NYSE BERY opened at $70.58 on Wednesday. The company has a market cap of $8.17 billion, a PE ratio of 17.60, a P/E/G ratio of 1.54 and a beta of 1.13. The firm’s 50 day moving average price is $70.29 and its 200-day moving average price is $68.70. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business 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 business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 EPS. Sell-side analysts forecast that Berry Global Group, Inc. will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. Berry Global Group’s dividend payout ratio is presently 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.