Marshall Wace LLP Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Marshall Wace LLP bought a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 436,492 shares of the industrial products company’s stock, valued at approximately $25,688,000. Marshall Wace LLP owned approximately 0.38% of Berry Global Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC lifted its position in shares of 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 buying an additional 548 shares during the period. LRI Investments LLC boosted its stake in Berry Global Group by 1,309.1% in the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Berry Global Group in the second quarter valued at $42,000. Finally, American Capital Advisory LLC acquired a new position in Berry Global Group during the second quarter worth $44,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Up 1.7 %

BERY stock opened at $69.06 on Friday. The business has a fifty day moving average of $65.71 and a 200-day moving average of $61.63. The company has a market cap of $7.90 billion, a P/E ratio of 16.40, a PEG ratio of 1.20 and a beta of 1.15. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93. 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 issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) 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 net margin of 4.55% and a return on equity of 27.32%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 EPS. As a group, equities research analysts expect that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced 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. This represents a $1.10 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley initiated coverage on shares of 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. UBS Group dropped 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 report 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.82.

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.