Voya Investment Management LLC Trims Stake in Berry Global Group, Inc. (NYSE:BERY)

Voya Investment Management LLC trimmed its holdings in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 52.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,450 shares of the industrial products company's stock after selling 46,791 shares during the period. Voya Investment Management LLC's holdings in Berry Global Group were worth $2,745,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BERY. Barclays PLC grew its stake in shares of Berry Global Group by 87.1% during the 3rd quarter. Barclays PLC now owns 101,956 shares of the industrial products company's stock worth $6,931,000 after acquiring an additional 47,476 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Berry Global Group during the 3rd quarter valued at approximately $463,000. Tidal Investments LLC boosted its holdings in Berry Global Group by 71.0% in the 3rd quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company's stock worth $2,129,000 after buying an additional 13,004 shares during the period. Franklin Resources Inc. grew its stake in Berry Global Group by 1.2% in the 3rd 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 in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Berry Global Group during the 4th quarter valued at $215,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 2.8 %

NYSE:BERY traded down $1.94 during midday trading on Wednesday, reaching $67.69. 18,809,857 shares of the stock traded hands, compared to its average volume of 1,401,516. The stock has a market capitalization of $7.84 billion, a P/E ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61. The company has a fifty day moving average of $68.68 and a 200 day moving average of $68.54. Berry Global Group, Inc. has a 12 month low of $57.52 and a 12 month high of $74.24.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.03. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.60 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. Berry Global Group's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $1.95 earnings per share. On average, research analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BERY shares. StockNews.com initiated coverage on Berry Global Group in a research report on Sunday. They set a "buy" rating on the stock. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Truist Financial lowered their price objective 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, April 22nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Berry Global Group has an average rating of "Hold" and an average price target of $75.13.

About Berry Global Group

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.