CNA Financial Corp Sells 10,000 Shares of Berry Global Group, Inc. (NYSE:BERY)

CNA Financial Corp reduced its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 5.9% in the 2nd quarter, Holdings Channel reports. The firm owned 160,000 shares of the industrial products company’s stock after selling 10,000 shares during the period. Berry Global Group accounts for approximately 5.3% of CNA Financial Corp’s holdings, making the stock its 9th largest position. CNA Financial Corp’s holdings in Berry Global Group were worth $9,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Berry Global Group during the 4th quarter valued at approximately $31,000. LRI Investments LLC boosted its position in Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock valued at $36,000 after buying an additional 576 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of Berry Global Group during the second quarter worth $44,000. Quarry LP increased its holdings in shares of Berry Global Group by 433.1% during the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after buying an additional 615 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Berry Global Group during the second quarter worth $87,000. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BERY. Bank of America boosted their price objective on Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. UBS Group lowered their price objective 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. Finally, StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.40.

Berry Global Group Trading Up 1.7 %

NYSE:BERY traded up $1.12 on Friday, reaching $68.87. 760,793 shares of the stock traded hands, compared to its average volume of 1,050,400. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. Berry Global Group, Inc. has a 1-year low of $53.92 and a 1-year high of $69.93. The company’s 50 day moving average is $63.07 and its 200-day moving average is $60.51. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. Berry Global Group’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 earnings per share. Equities research analysts anticipate that Berry Global Group, Inc. will post 7.44 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio is 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.