CX Institutional Buys 2,359 Shares of Berry Global Group, Inc. (NYSE:BERY)

CX Institutional increased its stake in Berry Global Group, Inc. (NYSE:BERY) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,460 shares of the industrial products company’s stock after purchasing an additional 2,359 shares during the quarter. CX Institutional’s holdings in Berry Global Group were worth $2,734,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BERY. GAMMA Investing LLC purchased a new stake in shares of Berry Global Group during the 4th quarter valued at about $31,000. LRI Investments LLC purchased a new stake in Berry Global Group during the first quarter valued at approximately $38,000. Quarry LP boosted its stake in shares of Berry Global Group by 433.1% during the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 615 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Berry Global Group during the 1st quarter valued at $100,000. Finally, Covestor Ltd increased its stake in shares of Berry Global Group by 87.5% in the 1st quarter. Covestor Ltd now owns 1,691 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 789 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on BERY shares. Robert W. Baird restated a “neutral” rating and set a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Bank of America raised their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, May 10th. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Sunday, August 4th. Finally, UBS Group lowered their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.40.

Insider Transactions at Berry Global Group

In other Berry Global Group news, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total transaction of $67,404.22. Following the sale, the chief financial officer now owns 119,384 shares of the company’s stock, valued at approximately $7,197,661.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Berry Global Group news, Director Peter T. Thomas bought 1,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $59.50 per share, with a total value of $59,500.00. Following the transaction, the director now directly owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Miles sold 1,118 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the transaction, the chief financial officer now owns 119,384 shares in the company, valued at approximately $7,197,661.36. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Berry Global Group Trading Down 0.1 %

Shares of NYSE BERY opened at $63.40 on Friday. Berry Global Group, Inc. has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.33 and a beta of 1.17. The business’s 50 day moving average price is $61.37 and its 200-day moving average price is $60.34.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, sell-side analysts expect that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a $0.275 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.74%. Berry Global Group’s payout ratio is currently 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.