Commonwealth Equity Services LLC Increases Position in Berry Global Group, Inc. (NYSE:BERY)

Commonwealth Equity Services LLC grew its position in Berry Global Group, Inc. (NYSE:BERY) by 7.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,459 shares of the industrial products company’s stock after purchasing an additional 748 shares during the period. Commonwealth Equity Services LLC’s holdings in Berry Global Group were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new stake in shares of Berry Global Group during the fourth quarter worth about $247,000. Jump Financial LLC bought a new position in shares of Berry Global Group during the fourth quarter worth about $290,000. Panagora Asset Management Inc. bought a new stake in Berry Global Group during the fourth quarter valued at $646,000. Norges Bank bought a new stake in shares of Berry Global Group in the 4th quarter worth approximately $81,617,000. Finally, Corient Private Wealth LLC lifted its position in Berry Global Group by 19.8% in the 4th quarter. Corient Private Wealth LLC now owns 12,041 shares of the industrial products company’s stock valued at $811,000 after purchasing an additional 1,992 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Up 1.4 %

BERY opened at $68.47 on Friday. The firm has a market cap of $7.83 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The business has a 50 day moving average price of $65.25 and a 200 day moving average price of $61.33. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93.

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

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is currently 26.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BERY shares. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. UBS Group decreased their target price on 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. Finally, Morgan Stanley assumed coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.82.

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.