Epoch Investment Partners Inc. Takes Position in Berry Global Group, Inc. (NYSE:BERY)

Epoch Investment Partners Inc. bought a new stake in shares of Berry Global Group, Inc. (NYSE:BERY) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,556 shares of the industrial products company’s stock, valued at approximately $1,033,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. boosted its position in Berry Global Group by 16.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after acquiring an additional 1,934,137 shares during the period. Vanguard Group Inc. lifted its position in 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 worth $782,070,000 after purchasing an additional 1,200,021 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 worth $204,365,000 after acquiring an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC grew 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 acquiring an additional 588,114 shares during the period. Finally, Goldentree Asset Management LP bought a new stake in Berry Global Group in the first quarter worth about $24,524,000. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Stock Up 1.8 %

BERY opened at $67.76 on Tuesday. The company has a market capitalization of $7.75 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. Berry Global Group, Inc. has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The business has a 50-day moving average of $65.43 and a 200-day moving average of $61.48.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.90 EPS. Equities research analysts forecast that Berry Global Group, Inc. will post 7.6 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders 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 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is 26.13%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BERY. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. UBS Group decreased their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the 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 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.