Creative Planning Grows Stake in Berry Global Group, Inc. (NYSE:BERY)

Creative Planning increased its position in Berry Global Group, Inc. (NYSE:BERY) by 5.9% in the second quarter, HoldingsChannel reports. The firm owned 6,629 shares of the industrial products company’s stock after purchasing an additional 372 shares during the quarter. Creative Planning’s holdings in Berry Global Group were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. increased its holdings 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 purchasing an additional 1,934,137 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Berry Global Group by 30.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after acquiring an additional 807,211 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Berry Global Group by 280.1% in the second 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, Eminence Capital LP lifted its position in shares of Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $69.80 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $70.74. The business has a 50-day moving average price of $66.62 and a 200 day moving average price of $62.37. The firm has a market cap of $7.99 billion, a PE ratio of 16.58, a P/E/G ratio of 1.10 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Tuesday, September 3rd were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.

Analysts Set New Price Targets

Several brokerages have weighed in on BERY. UBS Group reduced their price objective on 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. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Truist Financial increased their target price on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.40.

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.