Raymond James & Associates Has $17.78 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Raymond James & Associates grew its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 32.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261,538 shares of the industrial products company’s stock after purchasing an additional 63,836 shares during the quarter. Raymond James & Associates’ holdings in Berry Global Group were worth $17,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its position in Berry Global Group by 10.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after buying an additional 1,393,955 shares during the period. Vanguard Group Inc. raised its stake in shares of Berry Global Group by 10.2% during 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares during the period. Eminence Capital LP grew its stake 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 purchasing an additional 492,793 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in Berry Global Group by 18.7% in the first quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company’s stock valued at $102,886,000 after purchasing an additional 267,413 shares during the period. 95.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on BERY. Truist Financial lifted their target price on Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. 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 report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Down 0.8 %

Shares of NYSE:BERY opened at $67.97 on Friday. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.10 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The business’s 50-day moving average is $67.52 and its 200-day moving average is $62.88. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $70.86.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (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 the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.90 EPS. Equities research analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio 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.