Alpine Associates Management Inc. Buys Shares of 592,600 Berry Global Group, Inc. (NYSE:BERY)

Alpine Associates Management Inc. bought a new stake in Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 592,600 shares of the industrial products company’s stock, valued at approximately $38,323,000. Berry Global Group accounts for approximately 2.3% of Alpine Associates Management Inc.’s holdings, making the stock its 10th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Berry Global Group by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock worth $134,806,000 after buying an additional 27,437 shares in the last quarter. Sound Income Strategies LLC grew its position in Berry Global Group by 13.4% during the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock worth $4,715,000 after buying an additional 8,622 shares in the last quarter. Hancock Whitney Corp purchased a new position in Berry Global Group during the third quarter worth about $1,065,000. Integrated Investment Consultants LLC purchased a new position in Berry Global Group during the third quarter worth about $714,000. Finally, Barclays PLC grew its position in Berry Global Group by 87.1% during the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock worth $6,931,000 after buying an additional 47,476 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BERY has been the subject of a number of research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup reissued a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research note on Monday, November 25th. StockNews.com assumed coverage on Berry Global Group in a research note on Sunday. They issued a “buy” rating for the company. Royal Bank of Canada boosted their target price 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. Finally, UBS Group boosted their target price on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Seven 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 company has a consensus rating of “Hold” and an average price target of $74.56.

Berry Global Group Trading Up 2.2 %

BERY opened at $73.11 on Friday. Berry Global Group, Inc. has a one year low of $55.24 and a one year high of $73.75. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.54 and a beta of 1.13. The business has a 50 day simple moving average of $68.91 and a two-hundred day simple moving average of $68.30. 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 (NYSE:BERY) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that Berry Global Group, Inc. will post 6.25 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. Berry Global Group’s dividend payout ratio is currently 30.92%.

Berry Global Group Company 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.