Commonwealth Equity Services LLC Boosts Position in Berry Global Group, Inc. (NYSE:BERY)

Commonwealth Equity Services LLC lifted its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,459 shares of the industrial products company’s stock after buying an additional 748 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Berry Global Group were worth $616,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. LRI Investments LLC grew its stake in Berry Global Group by 1,309.1% in the second 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 last quarter. American Capital Advisory LLC acquired a new stake in Berry Global Group during the 2nd quarter worth about $44,000. Quarry LP lifted its holdings in Berry Global Group by 433.1% in 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 during the period. 1620 Investment Advisors Inc. purchased a new stake in Berry Global Group during the second quarter worth $87,000. Finally, Blue Trust Inc. increased its stake in shares of 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 valued at $93,000 after purchasing an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Up 1.4 %

BERY stock opened at $68.47 on Friday. The company’s 50 day moving average is $65.25 and its two-hundred day moving average is $61.33. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month 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 stock has a market cap of $7.83 billion, a P/E ratio of 16.26, a PEG ratio of 1.16 and a beta of 1.15.

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, topping analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. Research analysts expect that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.61%. Berry Global Group’s payout ratio is currently 26.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BERY. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective 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 research note on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.82.

About Berry Global Group

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.