Hudson Edge Investment Partners Inc. Sells 13,584 Shares of Berry Global Group, Inc. (NYSE:BERY)

Hudson Edge Investment Partners Inc. lowered its position in Berry Global Group, Inc. (NYSE:BERY) by 14.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,085 shares of the industrial products company’s stock after selling 13,584 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Berry Global Group were worth $4,772,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. M&T Bank Corp lifted its position in shares of Berry Global Group by 2.0% in the 4th 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 period. State of Michigan Retirement System lifted its holdings 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. boosted its position in Berry Global Group by 9.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,077 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 355 shares in the last quarter. Shayne & Jacobs LLC boosted its position in Berry Global Group by 2.0% during the 2nd quarter. Shayne & Jacobs LLC now owns 18,270 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 360 shares in the last quarter. Finally, First Hawaiian Bank increased its holdings in shares of Berry Global Group by 11.2% in the 1st quarter. First Hawaiian Bank now owns 3,725 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 376 shares during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Stock Performance

Shares of NYSE BERY traded down $0.76 during midday trading on Friday, reaching $66.82. The company had a trading volume of 480,962 shares, compared to its average volume of 1,043,506. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The business’s 50-day simple moving average is $63.87 and its 200 day simple moving average is $60.85. 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 stock has a market cap of $7.64 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.36 and a beta of 1.15.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 EPS. On average, analysts forecast that Berry Global Group, Inc. will post 7.6 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 issued a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 annualized dividend and a yield of 1.65%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BERY shares. Morgan Stanley started coverage on Berry Global Group in a research report on Wednesday. They set an “equal weight” rating and a $76.00 price objective on the stock. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, UBS Group reduced 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 research note on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group has an average 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.