The Manufacturers Life Insurance Company Sells 1,714 Shares of Berry Global Group, Inc. (NYSE:BERY)

The Manufacturers Life Insurance Company lowered its position in Berry Global Group, Inc. (NYSE:BERY) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,401 shares of the industrial products company’s stock after selling 1,714 shares during the period. The Manufacturers Life Insurance Company’s holdings in Berry Global Group were worth $5,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BERY. Norges Bank purchased a new stake in Berry Global Group in the 4th quarter valued at about $91,526,000. Magnetar Financial LLC purchased a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $71,882,000. Westchester Capital Management LLC bought a new stake in Berry Global Group during the fourth quarter worth $45,055,000. Alpine Associates Management Inc. purchased a new position in Berry Global Group in the fourth quarter worth $38,323,000. Finally, Calamos Advisors LLC bought a new position in Berry Global Group in the 4th quarter valued at $35,568,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BERY shares. Truist Financial cut their price target on shares of Berry Global Group from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. UBS Group boosted their target price on shares of Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, StockNews.com began coverage on shares of Berry Global Group in a research note on Sunday. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $75.13.

Berry Global Group Stock Down 2.8 %

BERY opened at $67.69 on Thursday. The company has a 50 day moving average of $68.59 and a 200 day moving average of $68.53. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 12 month low of $57.52 and a 12 month high of $74.24. 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 announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.03. The company had revenue of $2.52 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 earnings per share. On average, sell-side analysts expect that Berry Global Group, Inc. will post 6.25 EPS 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.