Berry Global Group, Inc. (NYSE:BERY) Shares Acquired by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. raised its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,942,921 shares of the industrial products company’s stock after purchasing an additional 1,393,955 shares during the period. Berry Global Group accounts for about 7.4% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its largest position. EdgePoint Investment Group Inc. owned approximately 13.06% of Berry Global Group worth $879,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the second quarter worth $27,000. Quest Partners LLC grew 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 boosted its stake in shares of Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group during the 2nd quarter worth approximately $42,000. Finally, American Capital Advisory LLC acquired a new stake in Berry Global Group during the 2nd quarter worth approximately $44,000. 95.36% of the stock is owned by institutional investors.

Berry Global Group Price Performance

Shares of BERY opened at $67.93 on Thursday. Berry Global Group, Inc. has a 1-year low of $53.92 and a 1-year high of $69.93. The firm has a fifty day simple moving average of $65.60 and a two-hundred day simple moving average of $61.58. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The firm has a market cap of $7.78 billion, a PE ratio of 16.13, a P/E/G ratio of 1.20 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the company earned $1.90 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently disclosed 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. This represents a $1.10 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Finally, 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. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $71.82.

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.