Wealth Enhancement Advisory Services LLC Lowers Position in Berry Global Group, Inc. (NYSE:BERY)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 53.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,833 shares of the industrial products company’s stock after selling 9,052 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Berry Global Group were worth $461,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BERY. EdgePoint Investment Group Inc. increased its stake in Berry Global Group by 16.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock valued at $819,441,000 after buying an additional 1,934,137 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares during the last quarter. LSV Asset Management lifted its holdings in Berry Global Group by 4.1% during the fourth quarter. LSV Asset Management now owns 4,330,213 shares of the industrial products company’s stock worth $291,813,000 after acquiring an additional 170,317 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Berry Global Group by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,282,248 shares of the industrial products company’s stock worth $221,191,000 after purchasing an additional 81,496 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Berry Global Group by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,389 shares of the industrial products company’s stock valued at $149,099,000 after purchasing an additional 38,414 shares during the period. Institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

BERY has been the topic of a number of recent analyst reports. StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group lowered their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Bank of America increased their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Seven 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 a consensus rating of “Hold” and an average target price of $71.40.

Berry Global Group Stock Performance

Shares of BERY stock opened at $67.24 on Friday. The firm’s 50 day moving average is $62.36 and its 200 day moving average is $60.21. The stock has a market capitalization of $7.69 billion, a P/E ratio of 15.97, a PEG ratio of 1.33 and a beta of 1.17. Berry Global Group, Inc. has a 12 month low of $53.92 and a 12 month high of $69.93. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64.

Berry Global Group (NYSE:BERY) last posted 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. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 earnings per share. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 3rd. Berry Global Group’s payout ratio is presently 26.13%.

Berry Global Group Company 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.