Berry Global Group, Inc. (NYSE:BERY) Position Lifted by Khrom Capital Management LLC

Khrom Capital Management LLC increased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,240,083 shares of the industrial products company’s stock after acquiring an additional 163,613 shares during the quarter. Berry Global Group makes up about 13.8% of Khrom Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Khrom Capital Management LLC owned approximately 1.08% of Berry Global Group worth $72,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BERY. FORA Capital LLC acquired a new position in Berry Global Group in the 1st quarter valued at about $1,492,000. Thompson Investment Management Inc. grew its position in Berry Global Group by 74.0% in the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after acquiring an additional 46,379 shares during the period. Sei Investments Co. grew its position in Berry Global Group by 8.3% in the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after acquiring an additional 12,385 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Berry Global Group by 11.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after acquiring an additional 13,398 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after purchasing an additional 9,483 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BERY shares. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. UBS Group dropped their price target on shares of 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. Finally, Morgan Stanley initiated coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Berry Global Group has an average rating of “Hold” and an average target price of $71.82.

Berry Global Group Stock Down 2.7 %

Berry Global Group stock opened at $66.59 on Monday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.16 and a beta of 1.15. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve month high of $69.93. The stock’s fifty day simple moving average is $65.33 and its 200-day simple moving average is $61.42.

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 analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the company earned $1.90 EPS. Berry Global Group’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities 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 $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is presently 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.