Berry Global Group, Inc. (NYSE:BERY) Stock Holdings Lessened by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 102,117 shares of the industrial products company’s stock after selling 6,501 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Berry Global Group were worth $6,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BERY. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group during the second quarter valued at approximately $27,000. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group during the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new stake in Berry Global Group during the 3rd quarter valued at $75,000. GAMMA Investing LLC raised its stake in Berry Global Group by 332.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,181 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 908 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Berry Global Group in the third quarter valued at $152,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup reissued a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group lowered their target price on Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. StockNews.com initiated coverage on shares of Berry Global Group in a research report on Sunday, January 12th. They issued a “buy” rating for the company. Royal Bank of Canada boosted their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $73.30.

Berry Global Group Stock Performance

Shares of BERY opened at $67.69 on Friday. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.16. The company’s fifty day moving average is $67.51 and its 200-day moving average is $66.51. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $73.31.

Berry Global Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.83%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, December 2nd. Berry Global Group’s dividend payout ratio is presently 28.25%.

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.