Sound Income Strategies LLC Has $4.37 Million Stock Position in Berry Global Group, Inc. (NYSE:BERY)

by · The Cerbat Gem

Sound Income Strategies LLC boosted its position in Berry Global Group, Inc. (NYSE:BERY – Free Report) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,292 shares of the industrial products company’s stock after buying an additional 5,174 shares during the quarter. Sound Income Strategies LLC owned approximately 0.06% of Berry Global Group worth $4,371,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. lifted its holdings in shares of Berry Global Group by 10.3% during the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock worth $879,391,000 after buying an additional 1,393,955 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 valued at $782,070,000 after purchasing an additional 1,200,021 shares during the period. Dimensional Fund Advisors LP grew its position in Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares during the last quarter. Eminence Capital LP increased its holdings in shares of Berry Global Group by 22.2% during the 2nd quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares during the period. Finally, Ancora Advisors LLC raised its position in shares of Berry Global Group by 18.7% during the first quarter. Ancora Advisors LLC now owns 1,701,163 shares of the industrial products company’s stock valued at $102,886,000 after buying an additional 267,413 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

NYSE BERY traded up $1.49 during trading hours on Friday, reaching $68.53. 604,858 shares of the company’s stock were exchanged, compared to its average volume of 998,387. The firm has a fifty day moving average of $66.36 and a 200-day moving average of $62.23. Berry Global Group, Inc. has a one year low of $53.92 and a one year high of $69.93. The stock has a market cap of $7.84 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.10 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 (NYSE:BERY – Get Free Report) last announced its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. On average, equities research analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.275 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 annualized dividend and a dividend yield of 1.61%. Berry Global Group’s dividend payout ratio (DPR) is currently 26.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BERY shares. UBS Group decreased their target price 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. Morgan Stanley assumed coverage on Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective on the stock. Finally, StockNews.com cut Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and a consensus price target of $71.80.

View Our Latest Analysis on Berry Global Group

Berry Global Group Profile

(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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