Mercer Global Advisors Inc. ADV Has $6.76 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Mercer Global Advisors Inc. ADV raised its holdings in Berry Global Group, Inc. (NYSE:BERY) by 370.0% during the second quarter, HoldingsChannel reports. The firm owned 114,868 shares of the industrial products company’s stock after acquiring an additional 90,428 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Berry Global Group were worth $6,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FORA Capital LLC acquired a new position in Berry Global Group during the 1st quarter worth approximately $1,492,000. Thompson Investment Management Inc. increased its holdings in shares of Berry Global Group by 74.0% during the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after buying an additional 46,379 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Berry Global Group by 8.3% in the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock valued at $9,774,000 after acquiring an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Berry Global Group by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock valued at $7,767,000 after acquiring an additional 13,398 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Berry Global Group by 33.8% during the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock worth $2,271,000 after acquiring an additional 9,483 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group dropped their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Morgan Stanley started coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.82.

Berry Global Group Stock Down 2.7 %

Berry Global Group stock opened at $66.59 on Friday. The firm has a 50 day moving average price of $65.33 and a two-hundred day moving average price of $61.39. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.16 and a beta of 1.15.

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 the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. 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 previous year, the business earned $1.90 earnings per share. Berry Global Group’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts predict that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.65%. Berry Global Group’s payout ratio is 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.