Letko Brosseau & Associates Inc. Decreases Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Letko Brosseau & Associates Inc. lessened its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 955,487 shares of the industrial products company’s stock after selling 4,215 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Berry Global Group were worth $61,791,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC increased its position 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 valued at $128,691,000 after purchasing an additional 6,833 shares during the last quarter. Khrom Capital Management LLC boosted its position in shares of Berry Global Group by 14.8% during the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after acquiring an additional 210,046 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Berry Global Group in the fourth quarter worth $105,092,000. Norges Bank bought a new stake in Berry Global Group in the fourth quarter worth $91,526,000. Finally, Magnetar Financial LLC purchased a new stake in Berry Global Group in the fourth quarter worth $71,882,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

BERY stock opened at $67.69 on Monday. The stock has a 50-day moving average price of $68.44 and a two-hundred day moving average price of $68.51. Berry Global Group, Inc. has a 12-month low of $57.52 and a 12-month high of $74.24. 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 company has a market cap of $7.84 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

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

Wall Street Analyst Weigh In

BERY has been the subject of several recent analyst reports. UBS Group raised their price target on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. 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 report on Tuesday, April 22nd. Finally, StockNews.com assumed coverage on Berry Global Group in a report on Monday. They issued a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.29.

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.