54,135 Shares in Berry Global Group, Inc. (NYSE:BERY) Bought by ClearAlpha Technologies LP

ClearAlpha Technologies LP bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 54,135 shares of the industrial products company's stock, valued at approximately $3,501,000. Berry Global Group accounts for about 2.4% of ClearAlpha Technologies LP's portfolio, making the stock its 13th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 6,833 shares in the last quarter. Norges Bank purchased a new position in Berry Global Group in the 4th quarter valued at about $91,526,000. Magnetar Financial LLC purchased a new stake in shares of Berry Global Group during the fourth quarter worth about $71,882,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Berry Global Group by 1.3% in the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Berry Global Group by 41.7% in the fourth quarter. JPMorgan Chase & Co. now owns 605,772 shares of the industrial products company's stock valued at $39,175,000 after purchasing an additional 178,287 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company's stock.

Berry Global Group Stock Performance

Shares of NYSE BERY traded down $0.90 during mid-day trading on Friday, hitting $68.89. The company had a trading volume of 1,480,551 shares, compared to its average volume of 1,308,377. 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 stock has a market cap of $7.98 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a 12 month low of $56.60 and a 12 month high of $74.24. The firm's 50 day simple moving average is $69.24 and its two-hundred day simple moving average is $68.59.

Berry Global Group (NYSE:BERY - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.35 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 earnings per share. As a group, equities research analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio (DPR) is 30.92%.

Analysts Set New Price Targets

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