Berry Global Group, Inc. (NYSE:BERY) Shares Sold by United Capital Financial Advisers LLC

Posted by Defense World Staff on Mar 8th, 2023

United Capital Financial Advisers LLC cut its holdings in shares of Berry Global Group, Inc. (NYSE:BERY – Get Rating) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,150 shares of the industrial products company’s stock after selling 203 shares during the period. United Capital Financial Advisers LLC’s holdings in Berry Global Group were worth $286,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BERY. AlphaCrest Capital Management LLC lifted its position in shares of Berry Global Group by 74.1% during the third quarter. AlphaCrest Capital Management LLC now owns 18,384 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 7,825 shares during the last quarter. Luminus Management LLC lifted its position in shares of Berry Global Group by 292.2% during the third quarter. Luminus Management LLC now owns 231,400 shares of the industrial products company’s stock worth $10,767,000 after purchasing an additional 172,400 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Berry Global Group by 51.0% during the third quarter. Segall Bryant & Hamill LLC now owns 274,623 shares of the industrial products company’s stock worth $12,777,000 after purchasing an additional 92,713 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Berry Global Group during the third quarter worth about $560,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Berry Global Group by 134.0% during the third quarter. Point72 Asset Management L.P. now owns 819,300 shares of the industrial products company’s stock worth $38,122,000 after purchasing an additional 469,100 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Performance

BERY opened at $61.32 on Wednesday. The business’s 50 day moving average is $61.51 and its 200-day moving average is $56.07. The stock has a market cap of $7.44 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.17. The company has a current ratio of 1.98, a quick ratio of 1.14 and a debt-to-equity ratio of 2.84. Berry Global Group, Inc. has a twelve month low of $44.52 and a twelve month high of $66.21.

Berry Global Group (NYSE:BERY – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. Berry Global Group had a net margin of 5.37% and a return on equity of 30.05%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, analysts predict that Berry Global Group, Inc. will post 7.43 earnings per share for the current year.

Berry Global Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. Berry Global Group’s dividend payout ratio is presently 17.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BERY shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Berry Global Group from $70.00 to $75.00 in a report on Friday, February 3rd. Barclays raised their target price on shares of Berry Global Group from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, February 6th. Mizuho cut their target price on shares of Berry Global Group from $69.00 to $63.00 and set a “neutral” rating on the stock in a report on Wednesday, November 16th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a report on Friday, March 3rd. Finally, Royal Bank of Canada raised their target price on shares of Berry Global Group from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Berry Global Group currently has an average rating of “Moderate Buy” and an average target price of $71.75.

About Berry Global Group

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Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.