Raymond James & Associates Acquires 63,836 Shares of Berry Global Group, Inc. (NYSE:BERY)

Raymond James & Associates lifted its stake in shares of Berry Global Group, Inc. (NYSE:BERY - Free Report) by 32.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,538 shares of the industrial products company's stock after purchasing an additional 63,836 shares during the period. Raymond James & Associates owned 0.23% of Berry Global Group worth $17,779,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FORA Capital LLC purchased a new stake in shares of Berry Global Group during the 1st quarter worth approximately $1,492,000. Sei Investments Co. grew its stake in Berry Global Group by 8.3% in the 1st quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company's stock valued at $9,774,000 after buying an additional 12,385 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Berry Global Group by 11.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company's stock valued at $7,767,000 after buying an additional 13,398 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Berry Global Group by 33.8% in the 1st quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company's stock valued at $2,271,000 after buying an additional 9,483 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Berry Global Group in the 1st quarter valued at approximately $691,000. Hedge funds and other institutional investors own 95.36% of the company's stock.

Berry Global Group Price Performance

Shares of NYSE BERY traded down $0.52 during mid-day trading on Friday, reaching $67.97. 887,644 shares of the company were exchanged, compared to its average volume of 985,839. Berry Global Group, Inc. has a 52 week low of $53.92 and a 52 week high of $70.86. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $7.78 billion, a PE ratio of 16.14, a PEG ratio of 1.10 and a beta of 1.15. The company's 50 day moving average price is $67.52 and its 200 day moving average price is $62.91.

Berry Global Group (NYSE:BERY - Get Free Report) last posted 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 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 the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $1.90 EPS. The firm's revenue was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that Berry Global Group, Inc. will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. Berry Global Group's dividend payout ratio is currently 26.13%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Berry Global Group from $68.00 to $74.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Morgan Stanley assumed coverage on shares of Berry Global Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $76.00 price objective for the company. 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. Finally, StockNews.com downgraded shares of Berry Global Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has an average rating of "Hold" and a consensus target price of $71.22.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares of the company's stock, valued at $2,119,889.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is currently owned by insiders.

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.