CWA Asset Management Group LLC Boosts Stake in Berry Global Group, Inc. (NYSE:BERY)

CWA Asset Management Group LLC grew its stake in Berry Global Group, Inc. (NYSE:BERY) by 26.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,968 shares of the industrial products company’s stock after buying an additional 1,896 shares during the period. CWA Asset Management Group LLC’s holdings in Berry Global Group were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BERY. Balyasny Asset Management L.P. purchased a new position in shares of Berry Global Group in the fourth quarter worth $105,092,000. Norges Bank purchased a new position in shares of Berry Global Group in the fourth quarter worth $91,526,000. Magnetar Financial LLC purchased a new position in shares of Berry Global Group in the fourth quarter worth $71,882,000. AQR Arbitrage LLC purchased a new position in shares of Berry Global Group in the fourth quarter worth $53,950,000. Finally, Westchester Capital Management LLC purchased a new position in shares of Berry Global Group in the fourth quarter worth $45,055,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BERY shares. Truist Financial reduced their target price on shares of Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen started coverage on shares of Berry Global Group in a report on Tuesday, May 20th. They set a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.29.

Berry Global Group Trading Down 2.8%

Shares of Berry Global Group stock opened at $67.69 on Friday. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. The firm has a fifty day moving average price of $67.81 and a 200 day moving average price of $68.21. Berry Global Group, Inc. has a 1 year low of $57.80 and a 1 year high of $74.24. The stock 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 released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.52 by $0.03. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.60 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $1.95 earnings per share. Equities research analysts predict that Berry Global Group, Inc. will post 6.25 earnings per share for the current year.

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.