Assenagon Asset Management S.A. Invests $2.87 Million in Berry Global Group, Inc. (NYSE:BERY)

Assenagon Asset Management S.A. acquired a new position in shares of Berry Global Group, Inc. (NYSE:BERY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,348 shares of the industrial products company’s stock, valued at approximately $2,868,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EdgePoint Investment Group Inc. lifted its position in Berry Global Group by 10.3% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after acquiring an additional 1,393,955 shares in the last quarter. FMR LLC lifted its position in Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Eminence Capital LP lifted its position in Berry Global Group by 22.2% in the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock valued at $159,751,000 after acquiring an additional 492,793 shares in the last quarter. Marshall Wace LLP bought a new position in Berry Global Group in the 2nd quarter valued at about $25,688,000. Finally, State Street Corp lifted its position in Berry Global Group by 10.4% in the 3rd quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after acquiring an additional 360,857 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Up 1.3 %

Shares of BERY stock opened at $68.51 on Wednesday. The company has a 50 day moving average of $67.51 and a 200-day moving average of $66.70. 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. The firm has a market cap of $7.92 billion, a P/E ratio of 15.61, a PEG ratio of 1.43 and a beta of 1.16.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 annualized dividend and a dividend yield of 1.81%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BERY. UBS Group dropped their price target on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. StockNews.com began coverage on shares of Berry Global Group in a research report on Monday. They issued a “buy” rating on the stock. Royal Bank of Canada raised their price target 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. Citigroup reiterated a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 price objective (up previously from $70.00) on shares of Berry Global Group in a research note on Monday, November 25th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group has a consensus rating of “Hold” and a consensus price target of $73.30.

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.