Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 56.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,029 shares of the industrial products company’s stock after selling 94,956 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Berry Global Group worth $4,787,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BERY. Greenleaf Trust lifted its stake in Berry Global Group by 3.5% during the fourth quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company’s stock worth $285,000 after purchasing an additional 149 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Berry Global Group by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 3,534 shares of the industrial products company’s stock worth $229,000 after buying an additional 170 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Berry Global Group by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company’s stock valued at $649,000 after buying an additional 241 shares during the period. UMB Bank n.a. grew its position in shares of Berry Global Group by 89.0% during the 4th 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. Finally, Arizona State Retirement System raised its stake in Berry Global Group by 1.0% during the fourth quarter. Arizona State Retirement System now owns 33,260 shares of the industrial products company’s stock worth $2,151,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $68.95 on Wednesday. The stock has a market cap of $7.98 billion, a P/E ratio of 17.20, a P/E/G ratio of 1.54 and a beta of 1.14. The firm’s 50-day simple moving average is $69.33 and its 200 day simple moving average is $68.55. Berry Global Group, Inc. has a fifty-two week low of $55.68 and a fifty-two week high of $74.24. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY) last released 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 company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. Equities analysts expect that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

BERY has been the subject of several recent research reports. UBS Group upped their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial dropped their target price on Berry Global Group from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, StockNews.com began coverage on Berry Global Group in a research note on Friday, April 18th. They issued a “buy” rating on the stock. Six 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, the company presently has a consensus rating of “Hold” and a consensus price target of $75.13.

Berry Global Group Company 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.