Aristeia Capital L.L.C. Buys New Position in Berry Global Group, Inc. (NYSE:BERY)

Aristeia Capital L.L.C. bought a new position in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,961 shares of the industrial products company's stock, valued at approximately $580,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Arbitrage LLC purchased a new stake in shares of Berry Global Group during the 4th quarter worth approximately $53,950,000. Schonfeld Strategic Advisors LLC raised its stake in Berry Global Group by 4,027.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 160,557 shares of the industrial products company's stock valued at $10,383,000 after purchasing an additional 156,667 shares in the last quarter. Paloma Partners Management Co bought a new position in Berry Global Group during the fourth quarter valued at $616,000. Pentwater Capital Management LP purchased a new position in shares of Berry Global Group in the 4th quarter worth $18,302,000. Finally, TIG Advisors LLC bought a new stake in shares of Berry Global Group in the 4th quarter worth about $1,566,000. 95.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BERY has been the subject of several recent research reports. StockNews.com began coverage on Berry Global Group in a research report on Sunday. They issued a "buy" rating for the company. Truist Financial dropped their target price on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group increased their price target on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $75.13.

Berry Global Group Trading Down 2.8 %

Shares of NYSE BERY traded down $1.94 during trading hours on Wednesday, reaching $67.69. The stock had a trading volume of 18,809,857 shares, compared to its average volume of 1,401,516. The business's fifty day moving average price is $68.68 and its two-hundred day moving average price is $68.54. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 52-week low of $57.52 and a 52-week high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35.

Berry Global Group (NYSE:BERY - Get Free Report) 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. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm's revenue for the quarter was up .0% compared to the same quarter last year. Analysts expect that Berry Global Group, Inc. will post 6.25 EPS 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.