Aigen Investment Management LP Acquires New Stake in Berry Global Group, Inc. (NYSE:BERY)

Aigen Investment Management LP acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 25,968 shares of the industrial products company’s stock, valued at approximately $1,679,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its holdings in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Berry Global Group by 3,569.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after buying an additional 821 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Berry Global Group by 463.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after buying an additional 876 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Berry Global Group in the third quarter valued at approximately $75,000. Finally, Merit Financial Group LLC acquired a new position in Berry Global Group during the fourth quarter worth $200,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup restated a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. StockNews.com began coverage on shares of Berry Global Group in a report on Saturday. They set a “buy” rating on the stock. UBS Group increased their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial boosted their price target on Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Barclays raised their price objective on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.56.

Berry Global Group Stock Down 1.6 %

Shares of NYSE:BERY opened at $70.71 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The company has a market capitalization of $8.19 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.54 and a beta of 1.15. Berry Global Group, Inc. has a 52-week low of $55.24 and a 52-week high of $73.75. The stock’s fifty day simple moving average is $68.38 and its 200-day simple moving average is $68.15.

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

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.31 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.24 annualized dividend and a yield of 1.75%. Berry Global Group’s payout ratio is currently 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.