Quarry LP Has $47,000 Position in Berry Global Group, Inc. (NYSE:BERY)

Quarry LP trimmed its holdings in Berry Global Group, Inc. (NYSE:BERY) by 22.4% during the second quarter, Holdings Channel reports. The firm owned 795 shares of the industrial products company’s stock after selling 229 shares during the quarter. Quarry LP’s holdings in Berry Global Group were worth $47,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgePoint Investment Group Inc. lifted its stake in Berry Global Group by 16.7% in the first quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock valued at $819,441,000 after buying an additional 1,934,137 shares during the period. Vanguard Group Inc. increased its stake in shares of Berry Global Group by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Berry Global Group by 30.3% during 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 acquiring an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Berry Global Group by 280.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after acquiring an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP grew its holdings in Berry Global Group by 22.2% in the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares during the period. Institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BERY shares. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. Finally, UBS Group reduced their price objective 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.82.

Berry Global Group Trading Up 0.6 %

NYSE BERY opened at $66.60 on Friday. 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 firm has a market capitalization of $7.62 billion, a P/E ratio of 15.82, a PEG ratio of 1.20 and a beta of 1.15. The business has a fifty day simple moving average of $66.14 and a 200 day simple moving average of $61.93. Berry Global Group, Inc. has a 12 month low of $53.92 and a 12 month high of $69.93.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. On average, analysts predict that Berry Global Group, Inc. will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, September 3rd. 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.