TIG Advisors LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

TIG Advisors LLC bought a new stake in Berry Global Group, Inc. (NYSE:BERY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,215 shares of the industrial products company's stock, valued at approximately $1,566,000.

A number of other hedge funds have also made changes to their positions in the company. Barclays PLC raised its stake in Berry Global Group by 87.1% in the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock valued at $6,931,000 after purchasing an additional 47,476 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Berry Global Group during the third quarter worth about $463,000. Tidal Investments LLC raised its position in shares of Berry Global Group by 71.0% in the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company's stock valued at $2,129,000 after buying an additional 13,004 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Berry Global Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company's stock valued at $21,711,000 after buying an additional 3,744 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in Berry Global Group during the fourth quarter worth approximately $215,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on BERY. UBS Group boosted their price target 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 began coverage on shares of Berry Global Group in a research report on Sunday. They issued a "buy" rating on the stock. Finally, Truist Financial dropped their price target on Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $75.13.

Berry Global Group Stock Down 2.8 %

BERY traded down $1.94 during trading hours on Friday, reaching $67.69. 18,809,857 shares of the stock traded hands, compared to its average volume of 1,400,205. Berry Global Group, Inc. has a fifty-two week low of $57.52 and a fifty-two week 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 $7.84 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. The firm's fifty day simple moving average is $68.84 and its two-hundred day simple moving average is $68.57.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.60 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. Berry Global Group's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. As a group, analysts forecast that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

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.