Magnetar Financial LLC Acquires Shares of 1,111,520 Berry Global Group, Inc. (NYSE:BERY)

Magnetar Financial LLC acquired a new stake in Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,111,520 shares of the industrial products company’s stock, valued at approximately $71,882,000. Berry Global Group comprises approximately 1.7% of Magnetar Financial LLC’s holdings, making the stock its 12th largest holding. Magnetar Financial LLC owned about 0.96% of Berry Global Group as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after purchasing an additional 27,437 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Berry Global Group by 13.4% in the 4th quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after purchasing an additional 8,622 shares during the period. Hancock Whitney Corp acquired a new position in shares of Berry Global Group in the 3rd quarter valued at $1,065,000. Integrated Investment Consultants LLC acquired a new position in shares of Berry Global Group in the 3rd quarter valued at $714,000. Finally, Barclays PLC lifted its stake in shares of 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 period. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $70.65 on Thursday. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.54 and a beta of 1.13. The business has a 50-day moving average of $69.85 and a 200-day moving average of $68.53. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group, Inc. has a fifty-two week low of $55.24 and a fifty-two week high of $74.24.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.35 billion. During the same quarter last year, the company posted $1.22 earnings per share. Berry Global Group’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

BERY has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Truist Financial raised their price objective 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. UBS Group raised their price objective 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. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Finally, StockNews.com started coverage on Berry Global Group in a research note on Monday. They set a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.56.

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.