Wedge Capital Management L L P NC Trims Stock Position in Berry Global Group, Inc. (NYSE:BERY)

Wedge Capital Management L L P NC trimmed its stake in Berry Global Group, Inc. (NYSE:BERY) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,036 shares of the industrial products company’s stock after selling 2,151 shares during the period. Wedge Capital Management L L P NC owned approximately 0.11% of Berry Global Group worth $7,653,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BERY. M&T Bank Corp grew its holdings in shares of Berry Global Group by 2.0% during the fourth quarter. M&T Bank Corp now owns 8,854 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 173 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Berry Global Group by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 33,400 shares of the industrial products company’s stock worth $2,020,000 after buying an additional 200 shares during the last quarter. State of Michigan Retirement System increased its position in Berry Global Group by 0.7% during the first quarter. State of Michigan Retirement System now owns 28,500 shares of the industrial products company’s stock worth $1,724,000 after buying an additional 200 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Berry Global Group by 9.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after buying an additional 355 shares during the last quarter. Finally, First Hawaiian Bank lifted its stake in Berry Global Group by 11.2% in the first quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after buying an additional 376 shares during the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

Berry Global Group Price Performance

Shares of NYSE BERY traded down $0.12 during trading on Friday, hitting $64.71. 23,685 shares of the company were exchanged, compared to its average volume of 1,073,380. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.33 and a beta of 1.17. The firm’s fifty day moving average price is $61.54 and its 200 day moving average price is $60.19.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Berry Global Group, Inc. will post 7.44 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.70%. Berry Global Group’s dividend payout ratio is presently 26.13%.

Insider Transactions at Berry Global Group

In other Berry Global Group news, Director Peter T. Thomas purchased 1,000 shares of Berry Global Group stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $59.50 per share, with a total value of $59,500.00. Following the completion of the acquisition, the director now directly owns 4,407 shares of the company’s stock, valued at $262,216.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

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

Berry Global Group Company 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.