Wedge Capital Management L L P NC Purchases 18,049 Shares of Berry Global Group, Inc. (NYSE:BERY)

Wedge Capital Management L L P NC increased its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 108,062 shares of the industrial products company's stock after acquiring an additional 18,049 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.09% of Berry Global Group worth $7,282,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in Berry Global Group by 69.6% during the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company's stock worth $34,000 after purchasing an additional 224 shares during the period. Blue Trust Inc. raised its stake in Berry Global Group by 203.7% during the fourth quarter. Blue Trust Inc. now owns 650 shares of the industrial products company's stock worth $40,000 after purchasing an additional 436 shares during the period. SG Americas Securities LLC purchased a new position in Berry Global Group during the third quarter worth approximately $101,000. 1620 Investment Advisors Inc. purchased a new position in Berry Global Group during the third quarter worth approximately $102,000. Finally, CWM LLC raised its stake in Berry Global Group by 200.0% during the fourth quarter. CWM LLC now owns 1,575 shares of the industrial products company's stock worth $106,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds own 95.36% of the company's stock.

Berry Global Group Price Performance

Shares of NYSE BERY traded up $0.54 during midday trading on Wednesday, reaching $56.91. The company's stock had a trading volume of 763,056 shares, compared to its average volume of 1,149,016. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The company has a 50 day moving average price of $58.83 and a 200 day moving average price of $61.45. Berry Global Group, Inc. has a one year low of $53.83 and a one year high of $69.93. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25.

Berry Global Group (NYSE:BERY - Get Free Report) last released its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business's revenue was down 6.8% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. On average, equities research analysts expect that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group's dividend payout ratio (DPR) is currently 23.66%.

Insider Activity at Berry Global Group

In related news, Director Jonathan F. Foster acquired 1,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now owns 5,728 shares of the company's stock, valued at approximately $335,030.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Berry Global Group news, Director Jonathan F. Foster bought 1,000 shares of the firm's stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares of the company's stock, valued at approximately $335,030.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter T. Thomas bought 2,000 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $56.00 per share, with a total value of $112,000.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company's stock, valued at $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BERY. Mizuho cut their target price on shares of Berry Global Group from $74.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, February 8th. UBS Group raised their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the company a "buy" rating in a research note on Tuesday, January 16th. TheStreet downgraded shares of Berry Global Group from a "b-" rating to a "c+" rating in a research note on Monday, February 26th. Wolfe Research started coverage on shares of Berry Global Group in a research note on Friday, March 1st. They set a "peer perform" rating on the stock. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $72.00.

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.