Texas Permanent School Fund Corp Has $5.80 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Texas Permanent School Fund Corp reduced its position in Berry Global Group, Inc. (NYSE:BERY) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 98,556 shares of the industrial products company’s stock after selling 2,804 shares during the period. Texas Permanent School Fund Corp’s holdings in Berry Global Group were worth $5,800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC grew its stake in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 548 shares during the period. LRI Investments LLC grew its stake in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the period. American Capital Advisory LLC acquired a new stake in shares of Berry Global Group during the second quarter worth $44,000. Quarry LP grew its stake in shares of Berry Global Group by 433.1% during the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 615 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Berry Global Group during the second quarter worth $87,000. 95.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BERY has been the subject of a number of research analyst reports. UBS Group decreased their target price on 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. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Finally, StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $65.74 on Friday. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. The stock’s 50-day moving average is $64.31 and its 200-day moving average is $60.98. Berry Global Group, Inc. has a one year low of $53.92 and a one year high of $69.93. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08.

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, topping the consensus estimate 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 business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Berry Global Group’s revenue was down 2.1% on a year-over-year basis. Equities analysts predict 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 will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued 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 1.67%. Berry Global Group’s payout ratio is presently 26.13%.

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.