Mercer Global Advisors Inc. ADV Has $6.76 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Mercer Global Advisors Inc. ADV increased its stake in Berry Global Group, Inc. (NYSE:BERY) by 370.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,868 shares of the industrial products company’s stock after buying an additional 90,428 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.10% of Berry Global Group worth $6,760,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC lifted its stake in Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC raised its holdings in shares of 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 valued at $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group in the 2nd quarter valued at about $42,000. American Capital Advisory LLC bought a new position in Berry Global Group during the second quarter worth about $44,000. Finally, Quarry LP increased its position in Berry Global Group by 433.1% during the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after buying an additional 615 shares during the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $66.59 on Friday. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The company’s 50 day moving average price is $65.33 and its two-hundred day moving average price is $61.39. The firm has a market cap of $7.62 billion, a PE ratio of 15.82, a PEG ratio of 1.16 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share. Equities research analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Analyst Ratings Changes

BERY has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley began coverage on Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.82.

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.