Tidal Investments LLC Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Tidal Investments LLC increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 168.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,980 shares of the industrial products company’s stock after buying an additional 52,655 shares during the period. Tidal Investments LLC’s holdings in Berry Global Group were worth $5,431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BERY. Balyasny Asset Management L.P. purchased a new stake in Berry Global Group during the fourth quarter worth $105,092,000. Norges Bank purchased a new position in Berry Global Group during the fourth quarter valued at $91,526,000. Magnetar Financial LLC purchased a new position in Berry Global Group during the fourth quarter valued at $71,882,000. AQR Arbitrage LLC purchased a new position in Berry Global Group during the fourth quarter valued at $53,950,000. Finally, Westchester Capital Management LLC purchased a new position in Berry Global Group during the fourth quarter valued at $45,055,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

NYSE:BERY opened at $67.69 on Wednesday. The company’s 50-day moving average price is $67.91 and its 200-day moving average price is $68.41. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The company has a market cap 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 twelve month low of $57.52 and a twelve month high of $74.24.

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

Analysts Set New Price Targets

Several research firms have issued reports on BERY. UBS Group increased their price objective on shares of 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 price objective 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. Finally, StockNews.com began coverage on shares of Berry Global Group in a report on Tuesday. They set a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.29.

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.