DekaBank Deutsche Girozentrale Makes New $42,000 Investment in Berry Global Group, Inc. (NYSE:BERY)

DekaBank Deutsche Girozentrale purchased a new stake in Berry Global Group, Inc. (NYSE:BERY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 714 shares of the industrial products company’s stock, valued at approximately $42,000.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC increased its stake in Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC grew its holdings in shares of 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 valued at $36,000 after buying an additional 576 shares during the period. American Capital Advisory LLC bought a new stake in shares of Berry Global Group in the 2nd quarter valued at $44,000. Quarry LP raised its stake in Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after buying an additional 615 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in Berry Global Group during the second quarter worth about $87,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BERY. Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. UBS Group dropped their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.82.

Berry Global Group Trading Down 2.7 %

Berry Global Group stock opened at $66.59 on Friday. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 1.16 and a beta of 1.15. The firm has a 50-day moving average of $65.33 and a 200-day moving average of $61.40. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. Berry Global Group, Inc. has a one year low of $53.92 and a one year high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results 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. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, equities analysts expect that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal 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 issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%. Berry Global Group’s payout ratio is 26.13%.

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.