EverSource Wealth Advisors LLC Reduces Holdings in Berry Global Group, Inc. (NYSE:BERY)

EverSource Wealth Advisors LLC reduced its stake in Berry Global Group, Inc. (NYSE:BERY) by 62.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,261 shares of the industrial products company’s stock after selling 47,235 shares during the period. EverSource Wealth Advisors LLC’s holdings in Berry Global Group were worth $1,663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BERY. EdgePoint Investment Group Inc. increased its stake in shares of Berry Global Group by 16.7% in the first quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after buying an additional 1,934,137 shares during the period. Norges Bank bought a new stake in Berry Global Group in the 4th quarter worth $81,617,000. Vanguard Group Inc. increased its position in shares of Berry Global Group by 10.2% in the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock valued at $782,070,000 after acquiring an additional 1,200,021 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after acquiring an additional 807,211 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after buying an additional 588,114 shares during the period. Institutional investors own 95.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BERY. Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. UBS Group decreased their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Eight investment 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 company has a consensus rating of “Hold” and an average price target of $71.82.

Berry Global Group Stock Down 2.7 %

Shares of NYSE:BERY opened at $66.59 on Monday. 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 fifty day simple moving average of $65.33 and a two-hundred day simple moving average of $61.42. Berry Global Group, Inc. has a 12-month low of $53.92 and a 12-month high of $69.93. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.16 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last announced 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 company had revenue of $3.16 billion for 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 revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend 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 (DPR) is currently 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.