Dimensional Fund Advisors LP Has $204.37 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Dimensional Fund Advisors LP grew its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 30.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,472,624 shares of the industrial products company’s stock after buying an additional 807,211 shares during the quarter. Dimensional Fund Advisors LP owned 3.04% of Berry Global Group worth $204,365,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. grew its holdings in shares of Berry Global Group by 16.7% during 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 last quarter. Norges Bank purchased a new position in Berry Global Group during the fourth quarter worth about $81,617,000. Vanguard Group Inc. boosted its holdings in Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after purchasing an additional 1,200,021 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 purchasing an additional 588,114 shares during the last quarter. Finally, Goldentree Asset Management LP purchased a new position in Berry Global Group during the first quarter worth about $24,524,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

NYSE BERY opened at $68.47 on Friday. The company’s 50 day moving average is $65.25 and its 200-day moving average is $61.33. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The firm has a market cap of $7.83 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 report on Wednesday, July 17th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.