Ballentine Partners LLC Raises Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Ballentine Partners LLC increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,121 shares of the industrial products company’s stock after buying an additional 501 shares during the quarter. Ballentine Partners LLC owned about 0.05% of Berry Global Group worth $4,019,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. increased its position in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after acquiring an additional 1,393,955 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 worth $782,070,000 after purchasing an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 in the last quarter. Eminence Capital LP boosted its position in shares of Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of 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 buying an additional 267,413 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BERY has been the topic of several research reports. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. UBS Group cut their target price on shares of 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. Finally, Truist Financial raised their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.22.

Insider Activity

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.00% of the company’s stock.

Berry Global Group Stock Performance

Shares of BERY stock opened at $68.50 on Friday. The company has a market cap of $7.84 billion, a P/E ratio of 16.27, a PEG ratio of 1.10 and a beta of 1.15. The firm has a fifty day moving average price of $67.46 and a 200 day moving average price of $62.80. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a 12 month low of $53.92 and a 12 month high of $70.86.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.26 billion. During the same period in the previous year, the business earned $1.90 EPS. Berry Global Group’s revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s payout ratio is 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.