Quest Partners LLC Increases Stake in Berry Global Group, Inc. (NYSE:BERY)

Quest Partners LLC increased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 54,800.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 549 shares of the industrial products company’s stock after buying an additional 548 shares during the period. Quest Partners LLC’s holdings in Berry Global Group were worth $32,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. State of Michigan Retirement System grew its holdings in Berry Global Group by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after acquiring an additional 200 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Berry Global Group by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 355 shares in the last quarter. Shayne & Jacobs LLC grew its holdings in Berry Global Group by 2.0% during the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock worth $1,075,000 after acquiring an additional 360 shares in the last quarter. First Hawaiian Bank grew its holdings in Berry Global Group by 11.2% during the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 376 shares in the last quarter. Finally, Guardian Wealth Management Inc. grew its holdings in Berry Global Group by 1.4% during the 4th quarter. Guardian Wealth Management Inc. now owns 32,521 shares of the industrial products company’s stock worth $2,192,000 after acquiring an additional 445 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley assumed 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 for the company. UBS Group lowered their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Stock Up 1.4 %

Shares of NYSE:BERY opened at $68.47 on Friday. The stock has a market cap of $7.83 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.16 and a beta of 1.15. The firm has a fifty day moving average price of $65.25 and a 200 day moving average price of $61.33. 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.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results 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. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. Berry Global Group’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. Sell-side analysts predict that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a 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%.

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.