Putnam Investments LLC Grows Holdings in Berry Global Group, Inc. (NYSE:BERY)

Putnam Investments LLC raised its position in Berry Global Group, Inc. (NYSE:BERY) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,636 shares of the industrial products company’s stock after purchasing an additional 24,258 shares during the period. Putnam Investments LLC owned about 0.19% of Berry Global Group worth $13,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BERY. Venturi Wealth Management LLC purchased a new position in Berry Global Group in the 1st quarter valued at about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Berry Global Group during the 1st quarter worth about $29,000. Quarry LP lifted its holdings in shares of Berry Global Group by 150.9% during the 1st quarter. Quarry LP now owns 537 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 323 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Berry Global Group during the 1st quarter worth about $38,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Berry Global Group during the 4th quarter worth about $50,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Trading Down 0.9 %

BERY opened at $63.76 on Friday. The firm has a market capitalization of $7.53 billion, a P/E ratio of 12.03, a P/E/G ratio of 0.87 and a beta of 1.19. The firm’s 50 day moving average is $64.46 and its 200-day moving average is $61.22. Berry Global Group, Inc. has a 52-week low of $44.52 and a 52-week high of $68.01. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 2.72.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.07). The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.42 billion. Berry Global Group had a net margin of 5.05% and a return on equity of 27.67%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 EPS. Analysts expect that Berry Global Group, Inc. will post 7.29 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. Berry Global Group’s dividend payout ratio is currently 18.87%.

Insider Activity

In related news, President Michael Edward Hill sold 28,369 shares of Berry Global Group stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $66.57, for a total value of $1,888,524.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Michael Edward Hill sold 28,369 shares of Berry Global Group stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $66.57, for a total value of $1,888,524.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President William J. Norman sold 9,000 shares of Berry Global Group stock in a transaction on Friday, August 11th. The stock was sold at an average price of $66.48, for a total transaction of $598,320.00. The disclosure for this sale can be found here. Insiders have sold 41,520 shares of company stock worth $2,763,744 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

BERY has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Berry Global Group from $76.00 to $87.00 in a report on Tuesday, July 18th. Bank of America increased their price objective on shares of Berry Global Group from $70.00 to $75.00 in a report on Monday, July 10th. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Wells Fargo & Company cut their price target on shares of Berry Global Group from $78.00 to $74.00 and set an “overweight” rating on the stock in a report on Thursday, August 10th. Finally, Royal Bank of Canada lifted their price target on shares of Berry Global Group from $73.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.54.

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.