Berry Global Group, Inc. (NYSE:BERY) Stake Decreased by Ancora Advisors LLC

Ancora Advisors LLC cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,818,205 shares of the industrial products company’s stock after selling 299,053 shares during the period. Berry Global Group makes up 2.6% of Ancora Advisors LLC’s portfolio, making the stock its 5th largest holding. Ancora Advisors LLC owned about 1.57% of Berry Global Group worth $117,583,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Berry Global Group by 0.3% in 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 buying an additional 6,833 shares during the period. Khrom Capital Management LLC raised its holdings in shares of Berry Global Group by 14.8% in the fourth 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 in the last quarter. Norges Bank bought a new position in Berry Global Group during the 4th quarter worth about $91,526,000. Magnetar Financial LLC bought a new stake in shares of Berry Global Group in the 4th quarter valued at about $71,882,000. Finally, Northern Trust Corp boosted its stake in shares of Berry Global Group by 26.3% during the fourth quarter. Northern Trust Corp now owns 1,000,009 shares of the industrial products company’s stock valued at $64,671,000 after purchasing an additional 208,303 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BERY has been the topic of a number of analyst reports. UBS Group lifted their price target on 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 decreased their target price 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, StockNews.com initiated coverage on Berry Global Group in a research note on Saturday, April 26th. They set a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.13.

Berry Global Group Price Performance

Shares of BERY opened at $67.69 on Friday. The business’s 50-day moving average is $68.84 and its two-hundred day moving average is $68.58. The company has a market capitalization of $7.84 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.54 and a beta of 1.14. Berry Global Group, Inc. has a fifty-two week low of $57.52 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.09 and a current ratio of 1.61.

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

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.