BNP Paribas Financial Markets Increases Stake in Berry Global Group, Inc. (NYSE:BERY)

BNP Paribas Financial Markets grew its holdings in Berry Global Group, Inc. (NYSE:BERY) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,661 shares of the industrial products company’s stock after buying an additional 4,253 shares during the quarter. BNP Paribas Financial Markets’ holdings in Berry Global Group were worth $1,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BERY. Norges Bank purchased a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $91,526,000. Magnetar Financial LLC purchased a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $71,882,000. AQR Arbitrage LLC purchased a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $53,950,000. Westchester Capital Management LLC purchased a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $45,055,000. Finally, Alpine Associates Management Inc. purchased a new stake in shares of Berry Global Group in the fourth quarter valued at approximately $38,323,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

NYSE BERY opened at $67.69 on Tuesday. The stock’s fifty day moving average is $67.93 and its two-hundred day moving average is $68.42. The firm has a market capitalization of $7.84 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. 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 fifty-two week low of $57.52 and a fifty-two week high of $74.24.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.60 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 earnings per share. On average, research analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BERY shares. Truist Financial cut their price objective on Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. UBS Group boosted their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, StockNews.com began coverage on Berry Global Group in a research note on Tuesday. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Berry Global Group has a consensus rating of “Hold” and an average price target of $74.29.

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.