Quent Capital LLC Boosts Stake in Berry Global Group, Inc. (NYSE:BERY)

Quent Capital LLC lifted its holdings in Berry Global Group, Inc. (NYSE:BERY) by 46.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,603 shares of the industrial products company’s stock after buying an additional 3,052 shares during the period. Quent Capital LLC’s holdings in Berry Global Group were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp increased its position in Berry Global Group by 2.0% during the fourth quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 173 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Berry Global Group by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the industrial products company’s stock worth $2,020,000 after purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System increased its position in Berry Global Group by 0.7% during the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after purchasing an additional 200 shares during the last quarter. First Hawaiian Bank increased its position in Berry Global Group by 11.2% during the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 376 shares during the last quarter. Finally, AGF Management Ltd. increased its position in shares of Berry Global Group by 2.6% during the fourth quarter. AGF Management Ltd. now owns 16,042 shares of the industrial products company’s stock valued at $1,081,000 after acquiring an additional 404 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BERY has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America lifted their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Robert W. Baird reiterated a “neutral” rating and set a $65.00 price target (down from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Sunday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.40.

Insider Transactions at Berry Global Group

In related news, Director Peter T. Thomas acquired 1,000 shares of Berry Global Group stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the transaction, the director now owns 4,407 shares of the company’s stock, valued at $262,216.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Berry Global Group news, Director Peter T. Thomas bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $59.50 per share, with a total value of $59,500.00. Following the acquisition, the director now directly owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Miles sold 1,118 shares of Berry Global Group stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the completion of the transaction, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Berry Global Group Stock Up 1.1 %

Shares of NYSE BERY traded up $0.68 during midday trading on Tuesday, hitting $63.59. The company’s stock had a trading volume of 727,854 shares, compared to its average volume of 1,094,159. The business’s fifty day simple moving average is $61.18 and its two-hundred day simple moving average is $60.30. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts predict that Berry Global Group, Inc. will post 7.44 EPS for the current year.

Berry Global Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.275 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.73%. Berry Global Group’s dividend payout ratio is currently 26.13%.

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.