Wedge Capital Management L L P NC Reduces Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Wedge Capital Management L L P NC reduced its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,117 shares of the industrial products company’s stock after selling 6,501 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of Berry Global Group worth $6,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the 2nd quarter valued at about $27,000. DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group in the second quarter worth $42,000. Capital Performance Advisors LLP bought a new stake in Berry Global Group during the third quarter valued at $75,000. GAMMA Investing LLC raised its holdings in shares of Berry Global Group by 332.6% during the third quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 908 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Berry Global Group in the 3rd quarter worth about $152,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of NYSE BERY opened at $67.69 on Friday. Berry Global Group, Inc. has a 1 year low of $54.06 and a 1 year high of $73.31. The firm has a market cap of $7.83 billion, a P/E ratio of 15.42, a PEG ratio of 1.38 and a beta of 1.16. The stock has a fifty day moving average price of $67.51 and a two-hundred day moving average price of $66.51. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.31 per share. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, December 2nd. Berry Global Group’s payout ratio is presently 28.25%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Barclays upped their price objective on Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada boosted their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a report on Thursday, November 21st. Truist Financial increased their price objective on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, StockNews.com initiated coverage on Berry Global Group in a research report on Sunday, January 12th. They set a “buy” rating for the company. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $73.30.

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.