AGF Management Ltd. Acquires 11,127 Shares of Berry Global Group, Inc. (NYSE:BERY)

AGF Management Ltd. lifted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 69.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 27,169 shares of the industrial products company’s stock after purchasing an additional 11,127 shares during the period. AGF Management Ltd.’s holdings in Berry Global Group were worth $1,599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BERY. Private Advisor Group LLC bought a new stake in shares of Berry Global Group during the fourth quarter worth about $247,000. BNP Paribas Financial Markets increased its position in shares of Berry Global Group by 50.2% during the fourth quarter. BNP Paribas Financial Markets now owns 107,955 shares of the industrial products company’s stock worth $7,275,000 after acquiring an additional 36,096 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Berry Global Group during the fourth quarter worth about $290,000. Dimensional Fund Advisors LP increased its position in shares of Berry Global Group by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,389 shares of the industrial products company’s stock worth $149,099,000 after acquiring an additional 38,414 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Berry Global Group by 122.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,629 shares of the industrial products company’s stock worth $918,000 after purchasing an additional 7,494 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

Berry Global Group stock opened at $65.53 on Friday. The firm’s fifty day moving average price is $64.59 and its 200-day moving average price is $61.06. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The stock has a market cap of $7.51 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. Berry Global Group, Inc. has a fifty-two week low of $53.92 and a fifty-two week high of $69.93.

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 for the quarter, beating the consensus estimate of $2.02 by $0.16. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.90 EPS. On average, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BERY. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. UBS Group reduced their price objective on shares of 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. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and an average price target of $71.82.

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.