Ameritas Investment Partners Inc. Sells 1,225 Shares of Berry Global Group, Inc. (NYSE:BERY)

Ameritas Investment Partners Inc. lowered its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,633 shares of the industrial products company’s stock after selling 1,225 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Berry Global Group were worth $1,862,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. lifted its position in shares of Berry Global Group by 16.7% during 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 acquiring an additional 1,934,137 shares during the period. Norges Bank bought a new stake in Berry Global Group during the fourth quarter worth about $81,617,000. Vanguard Group Inc. grew its stake in 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 worth $782,070,000 after buying an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after buying an additional 807,211 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after buying an additional 588,114 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on BERY shares. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Morgan Stanley assumed 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, UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Stock Performance

NYSE:BERY opened at $66.59 on Monday. The stock’s 50-day moving average is $65.33 and its 200-day moving average is $61.42. Berry Global Group, Inc. has a 1-year low of $53.92 and a 1-year high of $69.93. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. The stock has a market cap of $7.62 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15.

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, topping analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.90 EPS. Equities research analysts anticipate that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.275 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%. Berry Global Group’s payout ratio is 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.