Wells Fargo & Company MN Lowers Position in Berry Global Group, Inc. (NYSE:BERY)

Wells Fargo & Company MN lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,206 shares of the industrial products company's stock after selling 23,629 shares during the quarter. Wells Fargo & Company MN's holdings in Berry Global Group were worth $3,117,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Integrated Quantitative Investments LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $343,000. Atlas Capital Advisors Inc. grew its position in shares of Berry Global Group by 7,390.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company's stock worth $107,000 after purchasing an additional 1,626 shares in the last quarter. ExodusPoint Capital Management LP lifted its holdings in shares of Berry Global Group by 701.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 169,691 shares of the industrial products company's stock worth $10,974,000 after acquiring an additional 148,512 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Berry Global Group by 277.9% during the 4th quarter. Headlands Technologies LLC now owns 2,793 shares of the industrial products company's stock worth $181,000 after acquiring an additional 2,054 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Berry Global Group by 0.3% during the 4th 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 during the period. Institutional investors and hedge funds own 95.36% of the company's stock.

Wall Street Analysts Forecast Growth

BERY has been the subject of several research reports. StockNews.com initiated coverage on shares of Berry Global Group in a research note on Saturday. They issued a "buy" rating for the company. Truist Financial decreased their price objective on shares of Berry Global Group from $76.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group upped their price target 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of "Hold" and an average target price of $75.13.

Berry Global Group Stock Performance

Shares of BERY stock traded down $1.98 during trading on Tuesday, hitting $67.64. The company's stock had a trading volume of 18,809,857 shares, compared to its average volume of 1,389,888. The company has a market cap of $7.83 billion, a PE ratio of 16.87, a P/E/G ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The business has a fifty day moving average of $69.11 and a 200-day moving average of $68.61. Berry Global Group, Inc. has a 52 week low of $56.60 and a 52 week high of $74.24.

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

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.83%. The ex-dividend date was Monday, March 3rd. Berry Global Group's dividend payout ratio (DPR) is 30.92%.

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.