Berry Wealth Group LP Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Berry Wealth Group LP acquired a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,401 shares of the industrial products company’s stock, valued at approximately $231,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $555,000 after buying an additional 176 shares during the period. Creative Planning raised its position in shares of Berry Global Group by 3.0% during the third quarter. Creative Planning now owns 6,827 shares of the industrial products company’s stock worth $464,000 after acquiring an additional 198 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Berry Global Group by 0.7% in the first 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 during the period. Guardian Wealth Management Inc. boosted its holdings in Berry Global Group by 1.0% in the second quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock valued at $1,743,000 after acquiring an additional 287 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Berry Global Group by 9.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 355 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. UBS Group lowered their price objective on shares of 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. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus target price of $71.22.

Berry Global Group Stock Down 0.6 %

BERY stock traded down $0.41 during midday trading on Monday, reaching $69.89. 182,562 shares of the company’s stock traded hands, compared to its average volume of 987,028. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm’s fifty day moving average price is $67.03 and its 200-day moving average price is $62.58. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $70.86. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.10 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping 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 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 firm posted $1.90 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.57%. Berry Global Group’s dividend payout ratio is presently 26.13%.

Insider Activity at Berry Global Group

In other Berry Global Group 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by insiders.

About Berry Global Group

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.