EverSource Wealth Advisors LLC Trims Stock Position in Berry Global Group, Inc. (NYSE:BERY)

EverSource Wealth Advisors LLC lessened its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,496 shares of the industrial products company’s stock after selling 6,232 shares during the period. EverSource Wealth Advisors LLC owned approximately 0.07% of Berry Global Group worth $4,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BERY. EdgePoint Investment Group Inc. raised its holdings in shares of 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 last quarter. Norges Bank purchased a new position in shares of Berry Global Group during the fourth quarter worth $81,617,000. Vanguard Group Inc. raised its holdings in shares of Berry Global Group by 10.2% during the first quarter. Vanguard Group Inc. now owns 12,931,050 shares of the industrial products company’s stock worth $782,070,000 after purchasing an additional 1,200,021 shares during the last quarter. Goldentree Asset Management LP purchased a new position in Berry Global Group in the first quarter valued at $24,524,000. Finally, TD Asset Management Inc purchased a new position in Berry Global Group in the fourth quarter valued at $23,803,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Price Performance

Shares of BERY stock traded down $2.73 on Friday, reaching $62.92. 2,342,215 shares of the company were exchanged, compared to its average volume of 857,645. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.33 and a beta of 1.17. The business has a 50-day moving average price of $61.02 and a 200 day moving average price of $60.43. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.74. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year 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, topping analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.26 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. Berry Global Group’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. Equities research analysts forecast that Berry Global Group, Inc. will post 7.44 earnings per share for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.275 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.75%. Berry Global Group’s payout ratio is presently 26.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on BERY shares. UBS Group cut their price objective on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Finally, Bank of America lifted their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a report on Friday, May 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Berry Global Group presently has a consensus rating of “Moderate Buy” and an average target price of $71.40.

Insider Buying and Selling

In other Berry Global Group news, Director Peter T. Thomas purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the transaction, the director now owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Peter T. Thomas bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $59.50 per share, for a total transaction of $59,500.00. Following the acquisition, the director now directly owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Miles sold 1,118 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total transaction of $67,404.22. Following the completion of the transaction, the chief financial officer now owns 119,384 shares in the company, valued at $7,197,661.36. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

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.