Sagefield Capital LP Has $4.33 Million Stake in Berry Global Group, Inc. (NYSE:BERY)

Sagefield Capital LP boosted its stake in shares of Berry Global Group, Inc. (NYSE:BERY) by 64.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,485 shares of the industrial products company’s stock after acquiring an additional 28,692 shares during the quarter. Sagefield Capital LP owned 0.06% of Berry Global Group worth $4,325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FORA Capital LLC acquired a new position in shares of Berry Global Group in the 1st quarter worth approximately $1,492,000. Thompson Investment Management Inc. boosted its stake 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 purchasing an additional 46,379 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Berry Global Group by 8.3% during the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after purchasing an additional 12,385 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Berry Global Group by 11.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock valued at $7,767,000 after buying an additional 13,398 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of 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 buying an additional 9,483 shares in the last quarter. 95.36% of the stock is owned by institutional investors.

Berry Global Group Stock Performance

BERY stock opened at $67.76 on Tuesday. Berry Global Group, Inc. has a twelve month low of $53.92 and a twelve 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 company has a market cap of $7.75 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.16 and a beta of 1.15. The business’s fifty day moving average is $65.43 and its 200-day moving average is $61.48.

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

Berry Global Group Dividend Announcement

The company also recently disclosed 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 1.62%. The ex-dividend date was Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is currently 26.13%.

Analyst Upgrades and Downgrades

BERY has been the topic of a number of research analyst reports. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, September 13th. UBS Group decreased 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 research note on Wednesday, July 17th. Finally, Morgan Stanley started 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 target for the company. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.