Balyasny Asset Management L.P. Buys Shares of 1,625,053 Berry Global Group, Inc. (NYSE:BERY)

Balyasny Asset Management L.P. bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 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 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BERY. Benjamin Edwards Inc. grew its position in Berry Global Group by 2.9% in the 4th quarter. Benjamin Edwards Inc. now owns 9,858 shares of the industrial products company's stock valued at $637,000 after buying an additional 282 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Berry Global Group by 29.5% in the 4th quarter. BNP Paribas Financial Markets now owns 18,661 shares of the industrial products company's stock worth $1,207,000 after acquiring an additional 4,253 shares during the period. Aristeia Capital L.L.C. purchased a new stake in shares of Berry Global Group in the fourth quarter valued at about $580,000. AQR Arbitrage LLC acquired a new position in shares of Berry Global Group during the fourth quarter worth about $53,950,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings 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 worth $10,383,000 after purchasing an additional 156,667 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

Berry Global Group Price Performance

Shares of BERY stock traded down $1.94 during mid-day trading on Friday, reaching $67.69. The stock had a trading volume of 18,809,857 shares, compared to its average volume of 1,399,137. The company has a market cap 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 current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 12-month low of $57.52 and a 12-month high of $74.24. The business has a 50-day simple moving average of $68.50 and a 200 day simple moving average of $68.52.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the firm posted $1.95 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BERY shares. UBS Group lifted their price objective on Berry Global Group from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, February 7th. StockNews.com initiated coverage on Berry Global Group in a report on Sunday, May 4th. They set a "buy" rating on the stock. Finally, Truist Financial reduced 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $75.13.

Berry Global Group 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.