Invesco Ltd. Reduces Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Invesco Ltd. lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 350,577 shares of the industrial products company's stock after selling 127,865 shares during the quarter. Invesco Ltd. owned 0.30% of Berry Global Group worth $22,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BERY. Geode Capital Management LLC raised its position in Berry Global Group by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company's stock worth $128,691,000 after acquiring an additional 6,833 shares in the last quarter. Norges Bank acquired a new stake in Berry Global Group in the 4th quarter valued at about $91,526,000. Magnetar Financial LLC bought a new stake in Berry Global Group in the fourth quarter valued at approximately $71,882,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Berry Global Group by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 846,925 shares of the industrial products company's stock worth $54,771,000 after acquiring an additional 11,010 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Berry Global Group by 41.7% during the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company's stock worth $39,175,000 after purchasing an additional 178,287 shares during the period. 95.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on BERY shares. UBS Group boosted their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Truist Financial dropped their target price on shares of Berry Global Group from $76.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday. Finally, StockNews.com began coverage on Berry Global Group in a report on Friday, April 18th. They set a "buy" rating for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Berry Global Group has an average rating of "Hold" and a consensus target price of $75.13.

Berry Global Group Price Performance

Shares of BERY stock traded up $1.12 during trading hours on Thursday, hitting $69.63. 798,367 shares of the company's stock were exchanged, compared to its average volume of 1,300,142. The business's 50 day simple moving average is $69.30 and its 200-day simple moving average is $68.55. 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 $55.68 and a 12-month high of $74.24. The company has a market capitalization of $8.06 billion, a PE ratio of 17.34, a PEG ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business earned $1.22 EPS. Berry Global Group's quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.78%. Berry Global Group's dividend payout ratio (DPR) is presently 30.92%.

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.