Truist Financial Corp Reduces Holdings in Berry Global Group, Inc. (NYSE:BERY)

Truist Financial Corp reduced its position in Berry Global Group, Inc. (NYSE:BERY) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 20,472 shares of the industrial products company’s stock after selling 1,272 shares during the period. Truist Financial Corp’s holdings in Berry Global Group were worth $1,205,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP lifted its stake in Berry Global Group by 433.1% in the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after buying an additional 615 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Berry Global Group by 6.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 763,860 shares of the industrial products company’s stock worth $51,477,000 after purchasing an additional 48,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Berry Global Group during the 4th quarter worth $8,559,000. Quadrature Capital Ltd purchased a new position in Berry Global Group during the 4th quarter worth $500,000. Finally, First Hawaiian Bank raised its holdings in shares of Berry Global Group by 11.2% in the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after buying an additional 376 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BERY. UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus target price of $71.80.

Berry Global Group Stock Performance

Shares of BERY opened at $68.53 on Friday. The company has a market capitalization of $7.84 billion, a PE ratio of 16.28, a P/E/G ratio of 1.10 and a beta of 1.15. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The company has a 50-day simple moving average of $66.36 and a 200-day simple moving average of $62.23. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

Berry Global Group (NYSE:BERY) last posted its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates 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 revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Equities research analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 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.