Innealta Capital LLC Makes New Investment in Berry Global Group, Inc. (NYSE:BERY)

Innealta Capital LLC acquired a new position in Berry Global Group, Inc. (NYSE:BERY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,990 shares of the industrial products company’s stock, valued at approximately $117,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Berry Global Group during the fourth quarter worth approximately $31,000. LRI Investments LLC grew its stake in Berry Global Group by 1,309.1% in the 2nd 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 during the period. American Capital Advisory LLC purchased a new stake in Berry Global Group in the 2nd quarter worth $44,000. Quarry LP raised its position in 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 acquiring an additional 615 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in Berry Global Group during the second quarter valued at $87,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Berry Global Group Stock Up 1.7 %

Shares of NYSE BERY traded up $1.12 during mid-day trading on Friday, reaching $68.87. The company had a trading volume of 760,793 shares, compared to its average volume of 1,050,400. The firm has a 50 day simple moving average of $62.90 and a two-hundred day simple moving average of $60.44. Berry Global Group, Inc. has a 52-week low of $53.92 and a 52-week high of $69.93. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. The stock has a market cap of $7.88 billion, a P/E ratio of 16.31, a PEG ratio of 1.33 and a beta of 1.17.

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 the consensus estimate of $2.02 by $0.16. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 26.55% and a net margin of 4.12%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. Sell-side analysts predict that Berry Global Group, Inc. will post 7.44 earnings per share for the current year.

Berry Global Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.60%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Bank of America upped their target price on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, StockNews.com lowered Berry Global Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.40.

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.