Scientech Research LLC Sells 6,563 Shares of Berry Global Group, Inc. (NYSE:BERY)

Scientech Research LLC decreased its holdings in Berry Global Group, Inc. (NYSE:BERY) by 65.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,426 shares of the industrial products company’s stock after selling 6,563 shares during the period. Scientech Research LLC’s holdings in Berry Global Group were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its holdings in Berry Global Group by 1.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,424 shares of the industrial products company’s stock worth $555,000 after purchasing an additional 176 shares during the last quarter. State of Michigan Retirement System boosted its stake in Berry Global Group by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after purchasing an additional 200 shares in the last quarter. Guardian Wealth Management Inc. boosted its stake in Berry Global Group by 1.0% in the 2nd quarter. Guardian Wealth Management Inc. now owns 29,623 shares of the industrial products company’s stock worth $1,743,000 after purchasing an additional 287 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Berry Global Group by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 355 shares during the last quarter. Finally, Shayne & Jacobs LLC increased its stake in Berry Global Group by 2.0% during the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock valued at $1,075,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Berry Global Group stock opened at $67.06 on Wednesday. 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 company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15. The company’s 50 day simple moving average is $65.93 and its 200-day simple moving average is $61.76. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. Berry Global Group’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the business posted $1.90 EPS. As a group, equities research analysts expect that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s payout ratio is currently 26.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price for the company. Finally, UBS Group cut their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.