Massachusetts Financial Services Co. MA Sells 38,190 Shares of Berry Global Group, Inc. (NYSE:BERY)

Massachusetts Financial Services Co. MA cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,261,083 shares of the industrial products company’s stock after selling 38,190 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Berry Global Group were worth $191,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FORA Capital LLC bought a new stake in shares of Berry Global Group during the first quarter valued at approximately $1,492,000. Thompson Investment Management Inc. raised its stake in Berry Global Group by 74.0% during the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock valued at $6,595,000 after buying an additional 46,379 shares during the last quarter. Sei Investments Co. raised its stake in Berry Global Group by 8.3% during the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after buying an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Berry Global Group by 11.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock valued at $7,767,000 after buying an additional 13,398 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Berry Global Group by 33.8% during the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after buying an additional 9,483 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Down 0.5 %

BERY stock opened at $67.23 on Wednesday. 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 1-year low of $53.92 and a 1-year high of $69.93. The stock has a market capitalization of $7.69 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.16 and a beta of 1.15. The business has a fifty day moving average price of $64.94 and a 200-day moving average price of $61.23.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS 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 company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. Berry Global Group’s revenue was down 2.1% compared to the same quarter last year. Equities analysts forecast that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s payout ratio is currently 26.13%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BERY shares. UBS Group lowered their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They set 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 five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.