AQR Arbitrage LLC Takes $53.95 Million Position in Berry Global Group, Inc. (NYSE:BERY)

AQR Arbitrage LLC purchased a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 834,229 shares of the industrial products company's stock, valued at approximately $53,950,000. Berry Global Group comprises approximately 1.2% of AQR Arbitrage LLC's investment portfolio, making the stock its 17th largest holding. AQR Arbitrage LLC owned approximately 0.72% of Berry Global Group as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Greenleaf Trust lifted its stake in shares of Berry Global Group by 3.5% in the 4th quarter. Greenleaf Trust now owns 4,408 shares of the industrial products company's stock valued at $285,000 after purchasing an additional 149 shares during the period. Quadrant Capital Group LLC grew its position in shares of Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company's stock worth $48,000 after buying an additional 165 shares during the period. CIBC Asset Management Inc raised its stake in Berry Global Group by 5.1% during 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 period. Commonwealth Equity Services LLC increased its holdings in Berry Global Group by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,033 shares of the industrial products company's stock worth $649,000 after purchasing an additional 241 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Berry Global Group by 89.0% in the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock worth $42,000 after purchasing an additional 306 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BERY. UBS Group upped their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Truist Financial cut their price target on shares of Berry Global Group from $76.00 to $71.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com started coverage on shares of Berry Global Group in a research report on Sunday. They set a "buy" rating on the stock. Six 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, Berry Global Group has a consensus rating of "Hold" and an average price target of $75.13.

Berry Global Group Stock Performance

Shares of BERY stock traded down $1.94 on Tuesday, hitting $67.69. 18,809,857 shares of the stock were exchanged, compared to its average volume of 1,400,205. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $7.84 billion, a PE ratio of 16.88, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a one year low of $57.52 and a one year high of $74.24. The firm's 50 day moving average is $68.76 and its two-hundred day moving average is $68.54.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.03. The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.60 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 EPS. Sell-side analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

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.