University of Texas Texas AM Investment Management Co. Trims Holdings in Berry Global Group, Inc. (NYSE:BERY)

University of Texas Texas AM Investment Management Co. lessened its holdings in Berry Global Group, Inc. (NYSE:BERY) by 25.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,538 shares of the industrial products company’s stock after selling 6,141 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Berry Global Group were worth $1,032,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group in the 2nd quarter worth about $27,000. Quest Partners LLC grew its holdings in shares of Berry Global Group by 54,800.0% during the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after buying an additional 548 shares during the last quarter. LRI Investments LLC increased its position in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group in the 2nd quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new position in Berry Global Group in the 2nd quarter valued at approximately $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 1.4 %

NYSE:BERY opened at $67.06 on Wednesday. Berry Global Group, Inc. has a one year low of $53.92 and a one year high of $69.93. The business has a fifty day moving average price of $65.93 and a 200-day moving average price of $61.76. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.20 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 (NYSE:BERY) last posted its quarterly earnings data 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 firm 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 business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. Sell-side analysts forecast that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.275 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.64%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BERY shares. UBS Group decreased their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.