Berry Global Group, Inc. (NYSE:BERY) Stake Boosted by Eminence Capital LP

Eminence Capital LP grew its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 22.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,714,539 shares of the industrial products company’s stock after purchasing an additional 492,793 shares during the quarter. Berry Global Group makes up 2.6% of Eminence Capital LP’s portfolio, making the stock its 13th largest holding. Eminence Capital LP owned about 2.37% of Berry Global Group worth $159,751,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in shares of Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC grew its holdings 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 valued at $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC grew its holdings 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 valued at $36,000 after purchasing an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Berry Global Group during the second quarter valued at approximately $42,000. Finally, American Capital Advisory LLC bought a new position in shares of Berry Global Group during the second quarter valued at approximately $44,000. 95.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Berry Global Group Stock Performance

BERY opened at $67.93 on Thursday. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15. 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, Inc. has a 1-year low of $53.92 and a 1-year high of $69.93. The business has a 50 day moving average price of $65.60 and a two-hundred day moving average price of $61.58.

Berry Global Group (NYSE:BERY) last released its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The firm 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%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 earnings per share. Research analysts predict that Berry Global Group, Inc. will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.62%. Berry Global Group’s dividend payout ratio is currently 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.