Decagon Asset Management LLP Invests $8.93 Million in Berry Global Group, Inc. (NYSE:BERY)

Decagon Asset Management LLP bought a new position in Berry Global Group, Inc. (NYSE:BERY) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 138,022 shares of the industrial products company’s stock, valued at approximately $8,926,000. Berry Global Group accounts for approximately 3.3% of Decagon Asset Management LLP’s portfolio, making the stock its 13th largest holding.

Several other large investors have also recently modified their holdings of the business. UMB Bank n.a. grew its stake in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 306 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 821 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 876 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in Berry Global Group by 25,814.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,814 shares of the industrial products company’s stock valued at $117,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in Berry Global Group during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Up 0.8 %

NYSE:BERY opened at $71.07 on Wednesday. The company has a fifty day moving average of $69.76 and a 200 day moving average of $68.52. Berry Global Group, Inc. has a 52 week low of $55.24 and a 52 week high of $74.24. The company has a quick ratio of 1.09, a current ratio of 1.61 and a debt-to-equity ratio of 3.35. The firm has a market capitalization of $8.23 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. On average, research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup reaffirmed a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $76.00 price target (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Royal Bank of Canada boosted their price target on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 21st. UBS Group boosted their price target on shares of Berry Global Group from $72.00 to $73.00 and gave the stock 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 Monday. They issued a “buy” rating for the company. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Berry Global Group currently has a consensus rating of “Hold” and an average target price of $74.56.

Berry Global Group 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.