Handelsbanken Fonder AB Grows Holdings in Berry Global Group, Inc. (NYSE:BERY)

Handelsbanken Fonder AB grew its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,560 shares of the industrial products company’s stock after buying an additional 3,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Berry Global Group were worth $1,942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group during the 2nd quarter valued at approximately $27,000. Quest Partners LLC lifted its stake in Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC lifted its stake in Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Berry Global Group during the second quarter worth $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group during the second quarter worth $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BERY. 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 on the stock. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 3rd. Finally, UBS Group cut their target price 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. Seven investment 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 company presently has a consensus rating of “Hold” and a consensus target price of $71.80.

Berry Global Group Price Performance

Shares of BERY opened at $67.05 on Friday. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15. 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, Inc. has a one year low of $53.92 and a one year high of $69.93. The stock’s fifty day moving average is $66.25 and its 200-day moving average is $62.14.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

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.