Swiss National Bank Sells 3,600 Shares of Berry Global Group, Inc. (NYSE:BERY)

Swiss National Bank cut its stake in Berry Global Group, Inc. (NYSE:BERY) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,318 shares of the industrial products company’s stock after selling 3,600 shares during the quarter. Swiss National Bank owned 0.22% of Berry Global Group worth $17,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in Berry Global Group during the first quarter valued at approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Berry Global Group during the first quarter valued at approximately $29,000. Bartlett & Co. LLC bought a new stake in Berry Global Group during the second quarter valued at approximately $32,000. Quarry LP grew its position in Berry Global Group by 150.9% during the first quarter. Quarry LP now owns 537 shares of the industrial products company’s stock valued at $32,000 after buying an additional 323 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in Berry Global Group during the first quarter valued at approximately $38,000. 98.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $54.57, for a total transaction of $763,980.00. Following the sale, the director now directly owns 27,258 shares of the company’s stock, valued at $1,487,469.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup dropped their price target on shares of Berry Global Group from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. Wells Fargo & Company dropped their price target on shares of Berry Global Group from $74.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. StockNews.com upgraded shares of Berry Global Group from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group dropped their price target on shares of Berry Global Group from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Finally, Royal Bank of Canada upped their price target on shares of Berry Global Group from $73.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.85.

Berry Global Group Trading Up 0.2 %

Shares of BERY stock opened at $63.73 on Monday. Berry Global Group, Inc. has a 12-month low of $53.83 and a 12-month high of $68.01. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 2.72. The stock’s 50-day moving average price is $58.94 and its 200-day moving average price is $61.39. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.77 and a beta of 1.20.

Berry Global Group (NYSE:BERY) last issued its earnings results on Thursday, November 16th. The industrial products company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. Berry Global Group had a return on equity of 27.67% and a net margin of 5.05%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $2.19 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that Berry Global Group, Inc. will post 7.27 EPS for the current fiscal year.

Berry Global Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.275 per share. This is a boost from Berry Global Group’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 30th. Berry Global Group’s payout ratio is presently 18.87%.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.