Semanteon Capital Management LP Has $1.02 Million Position in Berry Global Group, Inc. (NYSE:BERY)

Semanteon Capital Management LP cut its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 26.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,975 shares of the industrial products company’s stock after selling 5,523 shares during the period. Semanteon Capital Management LP’s holdings in Berry Global Group were worth $1,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BERY. Altshuler Shaham Ltd bought a new stake in shares of Berry Global Group during the 2nd quarter worth about $27,000. Quest Partners LLC grew its position in shares of Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 548 shares during the last quarter. LRI Investments LLC increased its stake in shares of Berry Global Group by 1,309.1% during the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 576 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Berry Global Group during the 2nd quarter worth approximately $42,000. Finally, American Capital Advisory LLC bought a new stake in Berry Global Group in the 2nd quarter valued at $44,000. 95.36% of the stock is owned by institutional investors.

Insider Transactions at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the transaction, the director now directly owns 30,228 shares of the company’s stock, valued at $2,119,889.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Berry Global Group Stock Performance

Shares of BERY stock traded up $0.79 during mid-day trading on Monday, reaching $68.76. 19,386 shares of the company’s stock traded hands, compared to its average volume of 981,193. The firm has a 50 day moving average price of $67.52 and a two-hundred day moving average price of $62.91. The firm has a market capitalization of $7.87 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.10 and a beta of 1.15. Berry Global Group, Inc. has a 12 month low of $54.06 and a 12 month high of $70.86. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82.

Berry Global Group (NYSE:BERY) last posted its 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 the consensus estimate of $3.26 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 EPS. On average, research analysts forecast that Berry Global Group, Inc. will post 7.6 EPS for the current year.

Berry Global Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.275 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 1.60%. Berry Global Group’s dividend payout ratio is presently 26.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BERY shares. Truist Financial boosted their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. UBS Group decreased their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price objective for the company. Finally, StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.22.

About Berry Global Group

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.