Ameritas Investment Partners Inc. Sells 1,225 Shares of Berry Global Group, Inc. (NYSE:BERY)

Ameritas Investment Partners Inc. reduced its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,633 shares of the industrial products company’s stock after selling 1,225 shares during the period. Ameritas Investment Partners Inc.’s holdings in Berry Global Group were worth $1,862,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Quest Partners LLC increased its stake in Berry Global Group by 54,800.0% in the 2nd 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 raised its holdings in 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 worth $36,000 after acquiring an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Berry Global Group during the second quarter worth about $42,000. American Capital Advisory LLC acquired a new position in Berry Global Group during the second quarter valued at approximately $44,000. Finally, Quarry LP grew its stake in Berry Global Group by 433.1% in the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 615 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BERY has been the subject of several recent analyst reports. UBS Group cut their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target on the stock. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group presently has a consensus rating of “Hold” and an average price target of $71.82.

Berry Global Group Stock Performance

NYSE BERY opened at $66.59 on Monday. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The stock has a market cap of $7.62 billion, a PE ratio of 15.82, a P/E/G ratio of 1.16 and a beta of 1.15. The firm has a 50-day moving average of $65.33 and a 200-day moving average of $61.42. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group’s payout ratio is 26.13%.

Berry Global Group Company 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.