LGT Fund Management Co Ltd. Has $7.73 Million Stock Holdings in Berry Global Group, Inc. (NYSE:BERY)

LGT Fund Management Co Ltd. increased its stake in Berry Global Group, Inc. (NYSE:BERY) by 111.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,261 shares of the industrial products company’s stock after acquiring an additional 69,043 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Berry Global Group were worth $7,725,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BERY. EdgePoint Investment Group Inc. grew its stake in Berry Global Group by 16.7% during the first quarter. EdgePoint Investment Group Inc. now owns 13,548,966 shares of the industrial products company’s stock worth $819,441,000 after purchasing an additional 1,934,137 shares during the period. Norges Bank acquired a new stake in shares of Berry Global Group during the 4th quarter worth approximately $81,617,000. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 1,200,021 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after acquiring an additional 588,114 shares during the period. Finally, Goldentree Asset Management LP bought a new position in Berry Global Group during the first quarter worth $24,524,000. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Stock Performance

Shares of Berry Global Group stock opened at $66.36 on Tuesday. The firm has a market capitalization of $7.60 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.32 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. The business’s fifty day simple moving average is $64.03 and its 200 day simple moving average is $60.90. Berry Global Group, Inc. has a 12 month low of $53.92 and a 12 month high of $69.93.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 net margin of 4.55% and a return on equity of 27.32%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. As a group, analysts anticipate that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The company 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, September 3rd. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Analyst Ratings Changes

Several research firms have weighed in on BERY. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price for the company. Finally, UBS Group cut their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $71.82.

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.