Envestnet Asset Management Inc. Cuts Holdings in Berry Global Group, Inc. (NYSE:BERY)

Envestnet Asset Management Inc. lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 56.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,029 shares of the industrial products company's stock after selling 94,956 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Berry Global Group worth $4,787,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company's stock valued at $42,000 after buying an additional 306 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Berry Global Group by 3,569.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company's stock worth $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 876 shares in the last quarter. Atlas Capital Advisors Inc. increased its position in shares of 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 valued at $107,000 after buying an additional 1,626 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its stake in Berry Global Group by 25,814.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company's stock worth $117,000 after buying an additional 1,807 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company's stock.

Berry Global Group Stock Up 1.4 %

BERY stock traded up $0.99 on Monday, reaching $69.74. 2,468,545 shares of the company traded hands, compared to its average volume of 1,316,828. Berry Global Group, Inc. has a one year low of $56.60 and a one year high of $74.24. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The company has a market cap of $8.08 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The firm has a fifty day simple moving average of $69.21 and a 200-day simple moving average of $68.62.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $1.22 EPS. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.78%. Berry Global Group's dividend payout ratio is 30.92%.

Analysts Set New Price Targets

Several research firms have weighed in on BERY. 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 research report on Friday, February 7th. StockNews.com started coverage on Berry Global Group in a report on Saturday. 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 on the stock in a report on Tuesday, April 22nd. 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.com, the company has a consensus rating of "Hold" and an average price target of $75.13.

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.