Neo Ivy Capital Management Purchases New Position in Berry Global Group, Inc. (NYSE:BERY)

Neo Ivy Capital Management purchased a new position in Berry Global Group, Inc. (NYSE:BERYFree Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,600 shares of the industrial products company’s stock, valued at approximately $800,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Shayne & Jacobs LLC grew its holdings in shares of Berry Global Group by 2.0% in the second quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock valued at $1,075,000 after purchasing an additional 360 shares in the last quarter. Blue Trust Inc. grew its stake in Berry Global Group by 68.8% in the second quarter. Blue Trust Inc. now owns 1,536 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 626 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Berry Global Group by 9.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 355 shares during the period. Curated Wealth Partners LLC boosted its holdings in Berry Global Group by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 59,550 shares of the industrial products company’s stock worth $3,505,000 after acquiring an additional 119,100 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Berry Global Group by 8.1% during the second quarter. Sound Income Strategies LLC now owns 59,118 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 4,436 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BERY. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Monday, August 12th. UBS Group reduced their target price 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, Bank of America boosted their price target on Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group has an average rating of “Moderate Buy” and a consensus price target of $71.40.

Read Our Latest Research Report on Berry Global Group

Berry Global Group Stock Performance

Berry Global Group stock traded down $0.62 during midday trading on Tuesday, hitting $64.31. 97,104 shares of the company were exchanged, compared to its average volume of 1,067,786. Berry Global Group, Inc. has a fifty-two week low of $53.92 and a fifty-two week high of $69.93. The firm has a market capitalization of $7.36 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The business has a fifty day simple moving average of $61.84 and a two-hundred day simple moving average of $60.11. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74.

Berry Global Group (NYSE:BERYGet Free Report) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share 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 business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The company’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s payout ratio is currently 26.13%.

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Peter T. Thomas bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of $59.50 per share, for a total transaction 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 legal filing with the SEC, which is accessible through this link. 4.00% of the stock is owned by corporate insiders.

About Berry Global Group

(Free Report)

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.

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Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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