LSV Asset Management Sells 55,210 Shares of Berry Global Group, Inc. (NYSE:BERY)

LSV Asset Management lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,251,988 shares of the industrial products company’s stock after selling 55,210 shares during the quarter. LSV Asset Management owned 3.72% of Berry Global Group worth $250,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BERY. EdgePoint Investment Group Inc. raised its holdings in shares of Berry Global Group by 16.7% in 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 purchasing an additional 1,934,137 shares during the period. Norges Bank bought a new stake in shares of Berry Global Group in the 4th quarter worth approximately $81,617,000. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 10.2% in the 1st 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. Allspring Global Investments Holdings LLC raised its holdings in shares of Berry Global Group by 280.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock worth $46,968,000 after purchasing an additional 588,114 shares during the period. Finally, Goldentree Asset Management LP bought a new stake in shares of Berry Global Group in the 1st quarter worth approximately $24,524,000. Institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BERY. UBS Group reduced their price objective on shares of 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. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Morgan Stanley began coverage on shares of Berry Global Group in a research note on Wednesday. They issued an “equal weight” rating and a $76.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.82.

Berry Global Group Price Performance

Shares of BERY traded down $0.76 during mid-day trading on Friday, reaching $66.82. 480,962 shares of the stock traded hands, compared to its average volume of 1,043,506. The firm has a fifty day moving average price of $63.87 and a 200 day moving average price of $60.85. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 2.57. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Berry Global Group, Inc. will post 7.6 earnings per share for the current year.

Berry Global Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.65%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

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.