Dimensional Fund Advisors LP Purchases 807,211 Shares of Berry Global Group, Inc. (NYSE:BERY)

Dimensional Fund Advisors LP increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 30.3% during the second quarter, HoldingsChannel.com reports. The fund owned 3,472,624 shares of the industrial products company’s stock after acquiring an additional 807,211 shares during the period. Dimensional Fund Advisors LP’s holdings in Berry Global Group were worth $204,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BERY. Quest Partners LLC increased its holdings in Berry Global Group by 54,800.0% during the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 548 shares during the period. LRI Investments LLC increased its holdings in Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 576 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group in the 2nd quarter worth approximately $42,000. American Capital Advisory LLC purchased a new position in Berry Global Group in the 2nd quarter worth approximately $44,000. Finally, Quarry LP grew its stake in Berry Global Group by 433.1% in the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after buying an additional 615 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BERY. Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target for the company. UBS Group cut their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.82.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $68.47 on Friday. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The company has a fifty day moving average of $65.25 and a 200-day moving average of $61.33. 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 (NYSE:BERY) last announced its quarterly 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 business had revenue of $3.16 billion during 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 firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 EPS. Equities research analysts expect that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.61%. Berry Global Group’s 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.