Diversify Advisory Services LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Diversify Advisory Services LLC purchased a new position in shares of Berry Global Group, Inc. (NYSE:BERY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,033 shares of the industrial products company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC bought a new position in Berry Global Group during the third quarter worth about $403,000. State of Alaska Department of Revenue lifted its stake in Berry Global Group by 3.3% during the third quarter. State of Alaska Department of Revenue now owns 22,962 shares of the industrial products company’s stock worth $1,560,000 after purchasing an additional 730 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Berry Global Group by 95.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,280 shares of the industrial products company’s stock worth $1,039,000 after purchasing an additional 7,447 shares during the period. Ballentine Partners LLC lifted its stake in Berry Global Group by 0.9% during the third quarter. Ballentine Partners LLC now owns 59,121 shares of the industrial products company’s stock worth $4,019,000 after purchasing an additional 501 shares during the period. Finally, Tectonic Advisors LLC lifted its stake in Berry Global Group by 1.8% during the third quarter. Tectonic Advisors LLC now owns 76,231 shares of the industrial products company’s stock worth $5,182,000 after purchasing an additional 1,341 shares during the period. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $70.45 on Friday. 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 firm has a market cap of $8.07 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.10 and a beta of 1.15. The firm has a 50 day simple moving average of $67.83 and a 200 day simple moving average of $63.14. Berry Global Group, Inc. has a fifty-two week low of $54.06 and a fifty-two week high of $71.17.

Berry Global Group (NYSE:BERY) last issued 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 business had revenue of $3.16 billion during 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%. Berry Global Group’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Sell-side analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 23.50%.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group cut their target price on shares of 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. 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 target price for the company. Finally, Truist Financial lifted their target price on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and an average target price of $71.22.

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.