Balyasny Asset Management L.P. Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Balyasny Asset Management L.P. purchased a new position in Berry Global Group, Inc. (NYSE:BERY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,625,053 shares of the industrial products company's stock, valued at approximately $105,092,000. Balyasny Asset Management L.P. owned about 1.40% of Berry Global Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its stake in Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 306 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Berry Global Group by 28.8% in the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company's stock valued at $48,000 after buying an additional 165 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock valued at $55,000 after buying an additional 821 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock valued at $69,000 after buying an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its position in Berry Global Group by 7,390.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company's stock worth $107,000 after acquiring an additional 1,626 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 2.8 %

Shares of NYSE BERY traded down $1.94 during midday trading on Wednesday, hitting $67.69. The stock had a trading volume of 18,809,857 shares, compared to its average volume of 1,400,026. The company has a fifty day moving average price of $68.59 and a 200 day moving average price of $68.53. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 1-year low of $57.52 and a 1-year 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, beating 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 firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the previous year, the company posted $1.95 earnings per share. Berry Global Group's revenue was up .0% compared to the same quarter last year. On average, analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Analyst Ratings Changes

BERY has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on Berry Global Group from $76.00 to $71.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com began coverage on Berry Global Group in a research report on Sunday. They set a "buy" rating on the stock. Finally, UBS Group lifted 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Berry Global Group has an average rating of "Hold" and an average price target of $75.13.

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.