National Bank of Canada FI Increases Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

National Bank of Canada FI boosted its stake in Berry Global Group, Inc. (NYSE:BERY) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,725 shares of the industrial products company’s stock after buying an additional 794 shares during the quarter. National Bank of Canada FI’s holdings in Berry Global Group were worth $1,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 16.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after purchasing an additional 1,934,137 shares during the period. Norges Bank bought a new position in shares of Berry Global Group during the 4th quarter valued at approximately $81,617,000. Vanguard Group Inc. increased its stake in shares of Berry Global Group by 10.2% during the 1st 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 during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after purchasing an additional 588,114 shares during the last quarter. Finally, Goldentree Asset Management LP bought a new stake in shares of Berry Global Group in the 1st quarter worth approximately $24,524,000. 95.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on BERY shares. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Morgan Stanley started coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. Finally, UBS Group lowered 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. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Stock Performance

Berry Global Group stock opened at $65.70 on Thursday. The firm’s 50 day simple moving average is $64.18 and its 200 day simple moving average is $60.94. 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 1-year low of $53.92 and a 1-year high of $69.93. The firm has a market capitalization of $7.53 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $1.90 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts expect that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is 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.