Seven Eight Capital LP Has $1.16 Million Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

Seven Eight Capital LP boosted its position in Berry Global Group, Inc. (NYSE:BERY) by 101.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,706 shares of the industrial products company’s stock after acquiring an additional 9,936 shares during the period. Seven Eight Capital LP’s holdings in Berry Global Group were worth $1,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BERY. Quest Partners LLC boosted its stake in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC boosted its stake in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Berry Global Group in the second quarter valued at approximately $42,000. American Capital Advisory LLC acquired a new stake in Berry Global Group during the 2nd quarter worth $44,000. Finally, Quarry LP raised its position in shares of 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 last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. UBS Group lowered their price target 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. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Price Performance

Shares of NYSE BERY opened at $68.47 on Friday. The company has a fifty day moving average price of $65.25 and a 200 day moving average price of $61.33. 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 cap of $7.83 billion, a PE ratio of 16.26, a PEG ratio of 1.16 and a beta of 1.15. 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 (NYSE:BERY) last posted 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. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. Berry Global Group’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. Research 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend 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.