Envestnet Portfolio Solutions Inc. Increases Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Envestnet Portfolio Solutions Inc. boosted its position in Berry Global Group, Inc. (NYSE:BERY) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,077 shares of the industrial products company’s stock after buying an additional 355 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Berry Global Group were worth $240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp raised its position in shares of Berry Global Group by 2.0% during the 4th quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock valued at $597,000 after acquiring an additional 173 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Berry Global Group by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the industrial products company’s stock valued at $2,020,000 after acquiring an additional 200 shares in the last quarter. State of Michigan Retirement System lifted its holdings in 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 purchasing an additional 200 shares during the period. First Hawaiian Bank grew its position in Berry Global Group by 11.2% in the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after buying an additional 376 shares in the last quarter. Finally, AGF Management Ltd. increased its stake in Berry Global Group by 2.6% during the 4th quarter. AGF Management Ltd. now owns 16,042 shares of the industrial products company’s stock valued at $1,081,000 after buying an additional 404 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Stock Up 1.8 %

Shares of NYSE:BERY opened at $67.24 on Friday. The firm has a 50 day simple moving average of $62.36 and a 200 day simple moving average of $60.21. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $69.93. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. The company has a market cap of $7.69 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17.

Berry Global Group (NYSE:BERY) last released its earnings results 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. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, research analysts expect that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.64%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BERY shares. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group dropped their price objective 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. Finally, Bank of America lifted their target price on Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.40.

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.