Berry Wealth Group LP Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Berry Wealth Group LP purchased a new position in Berry Global Group, Inc. (NYSE:BERY) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,401 shares of the industrial products company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Berry Global Group during the second quarter valued at $27,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares during the last quarter. LRI Investments LLC increased its holdings in Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Berry Global Group in the 2nd quarter valued at about $42,000. Finally, American Capital Advisory LLC purchased a new stake in Berry Global Group during the second quarter valued at about $44,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BERY has been the topic of a number of recent research reports. UBS Group dropped their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Truist Financial raised their target price on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.22.

Berry Global Group Price Performance

Shares of BERY traded down $0.41 during trading hours on Monday, reaching $69.89. 182,562 shares of the company’s stock traded hands, compared to its average volume of 987,028. Berry Global Group, Inc. has a 12 month low of $53.92 and a 12 month high of $70.86. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The stock has a market cap of $8.00 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. The firm’s 50 day simple moving average is $67.03 and its 200-day simple moving average is $62.58.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.16. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. Berry Global Group’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. Equities analysts expect that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.275 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.57%. Berry Global Group’s dividend payout ratio is presently 26.13%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the transaction, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.

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.