Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in Berry Global Group, Inc. (NYSE:BERY) by 99.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,110 shares of the industrial products company’s stock after selling 2,395,654 shares during the quarter. Pacer Advisors Inc.’s holdings in Berry Global Group were worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BERY. EdgePoint Investment Group Inc. boosted its position in shares of Berry Global Group by 16.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after buying an additional 1,934,137 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after buying an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after buying an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after buying an additional 588,114 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new stake in shares of Berry Global Group in the 1st quarter worth about $24,524,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Down 0.3 %

BERY opened at $68.86 on Friday. The firm has a 50 day moving average price of $65.83 and a 200 day moving average price of $61.69. The company has a market cap of $7.88 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82.

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

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BERY shares. UBS Group decreased their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.82.

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.