Letko Brosseau & Associates Inc. Acquires 18,875 Shares of Berry Global Group, Inc. (NYSE:BERY)

Letko Brosseau & Associates Inc. boosted its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,937 shares of the industrial products company’s stock after acquiring an additional 18,875 shares during the period. Letko Brosseau & Associates Inc. owned 0.83% of Berry Global Group worth $56,139,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. 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 worth $36,000 after purchasing an additional 576 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of Berry Global Group during the second quarter valued at approximately $44,000. Quarry LP increased its position in shares of Berry Global Group by 433.1% during the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 615 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Berry Global Group during the second quarter valued at approximately $87,000. Finally, Blue Trust Inc. raised its holdings in Berry Global Group by 68.8% in the 2nd quarter. Blue Trust Inc. now owns 1,536 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 626 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

BERY has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday. They issued an “equal weight” rating and a $76.00 target price for the company. Bank of America boosted their target price on Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. UBS Group lowered their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $71.82.

Berry Global Group Stock Performance

NYSE BERY traded down $0.76 on Friday, hitting $66.82. 480,962 shares of the company traded hands, compared to its average volume of 1,043,506. The business’s 50 day moving average price is $63.87 and its 200-day moving average price is $60.84. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. 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 company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.36 and a beta of 1.17.

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 for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion for 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%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Equities analysts expect that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.275 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.65%. 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.