Raymond James & Associates Trims Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Raymond James & Associates lessened its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 18.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,702 shares of the industrial products company’s stock after selling 45,901 shares during the quarter. Raymond James & Associates’ holdings in Berry Global Group were worth $11,635,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BERY. GAMMA Investing LLC acquired a new stake in shares of Berry Global Group during the fourth quarter worth about $31,000. LRI Investments LLC purchased a new position in Berry Global Group during the 1st quarter worth approximately $38,000. Quarry LP lifted its stake in Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 615 shares during the period. Blue Trust Inc. boosted its holdings in shares of Berry Global Group by 68.8% in the 2nd quarter. Blue Trust Inc. now owns 1,536 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 626 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Berry Global Group in the 1st quarter valued at $100,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday. UBS Group cut their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Bank of America boosted their price objective on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.40.

Berry Global Group Stock Performance

NYSE BERY opened at $67.24 on Friday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.33 and a beta of 1.17. The stock has a 50-day moving average of $62.36 and a 200 day moving average of $60.18. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data 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. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Berry Global Group, Inc. will post 7.44 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is presently 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.