Quent Capital LLC Sells 451 Shares of Berry Global Group, Inc. (NYSE:BERY)

Quent Capital LLC reduced its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 9,152 shares of the industrial products company’s stock after selling 451 shares during the period. Quent Capital LLC’s holdings in Berry Global Group were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BERY. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the second quarter valued at approximately $27,000. Quest Partners LLC lifted its holdings in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 548 shares in the last quarter. LRI Investments LLC grew its position 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 purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Berry Global Group during the 2nd quarter valued at $42,000. Finally, American Capital Advisory LLC bought a new stake in Berry Global Group during the 2nd quarter valued at $44,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of Berry Global Group stock traded up $0.37 during trading hours on Friday, hitting $66.60. 564,658 shares of the company’s stock traded hands, compared to its average volume of 1,010,313. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.20 and a beta of 1.15. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The company has a fifty day simple moving average of $66.14 and a 200-day simple moving average of $61.93.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. Equities research analysts anticipate that Berry Global Group, Inc. will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley initiated 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 objective on the stock. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, UBS Group cut their price target on 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. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average 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.