Wedge Capital Management L L P NC Has $7.28 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Wedge Capital Management L L P NC raised its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 20.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 108,062 shares of the industrial products company’s stock after acquiring an additional 18,049 shares during the period. Wedge Capital Management L L P NC’s holdings in Berry Global Group were worth $7,282,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sasco Capital Inc. CT purchased a new position in Berry Global Group during the third quarter valued at approximately $17,518,000. Invesco Ltd. raised its stake in Berry Global Group by 60.1% in the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock worth $38,471,000 after buying an additional 233,368 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Berry Global Group by 3,593.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 128,039 shares of the industrial products company’s stock valued at $7,927,000 after buying an additional 124,572 shares in the last quarter. UBS Group AG lifted its holdings in shares of Berry Global Group by 95.1% during the third quarter. UBS Group AG now owns 250,526 shares of the industrial products company’s stock valued at $15,510,000 after purchasing an additional 122,096 shares during the last quarter. Finally, Harbour Trust & Investment Management Co bought a new position in Berry Global Group in the 4th quarter worth about $7,205,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Down 0.8 %

BERY opened at $56.37 on Wednesday. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.77 and a beta of 1.25. The company has a fifty day moving average of $58.87 and a two-hundred day moving average of $61.45. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. Berry Global Group, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $69.93.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 earnings per share. On average, research analysts expect that Berry Global Group, Inc. will post 7.38 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 29th. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Insider Buying and Selling

In other news, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the purchase, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Berry Global Group news, Director Peter T. Thomas acquired 2,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $112,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan F. Foster purchased 1,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the acquisition, the director now owns 5,728 shares of the company’s stock, valued at $335,030.72. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BERY shares. UBS Group lifted their price target on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Robert W. Baird reissued a “neutral” rating and issued a $65.00 target price (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. Mizuho dropped their target price on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Barclays dropped their price target on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.00.

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.