Stone Ridge Asset Management LLC Buys Shares of 7,728 Berry Global Group Inc (NYSE:BERY)

Stone Ridge Asset Management LLC purchased a new position in Berry Global Group Inc (NYSE:BERY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,728 shares of the industrial products company’s stock, valued at approximately $367,000.

Several other large investors have also added to or reduced their stakes in BERY. Anchor Bolt Capital LP grew its stake in shares of Berry Global Group by 124.9% in the fourth quarter. Anchor Bolt Capital LP now owns 2,240,092 shares of the industrial products company’s stock worth $106,472,000 after purchasing an additional 1,244,171 shares in the last quarter. Canyon Capital Advisors LLC lifted its holdings in shares of Berry Global Group by 9.6% in the third quarter. Canyon Capital Advisors LLC now owns 8,670,022 shares of the industrial products company’s stock valued at $419,542,000 after buying an additional 759,742 shares during the period. Marshall Wace LLP lifted its holdings in shares of Berry Global Group by 130.4% in the third quarter. Marshall Wace LLP now owns 633,510 shares of the industrial products company’s stock valued at $30,656,000 after buying an additional 358,588 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Berry Global Group by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,145,573 shares of the industrial products company’s stock valued at $197,038,000 after buying an additional 328,906 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Berry Global Group by 43.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,072,644 shares of the industrial products company’s stock valued at $50,981,000 after buying an additional 324,037 shares during the period. 97.34% of the stock is owned by institutional investors.

Several analysts have recently weighed in on BERY shares. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, January 15th. Citigroup upped their price objective on Berry Global Group from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 7th. Morgan Stanley started coverage on Berry Global Group in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $63.33.

Shares of NYSE BERY traded up $0.24 during mid-day trading on Friday, hitting $57.53. 1,059,522 shares of the company traded hands, compared to its average volume of 1,326,937. Berry Global Group Inc has a 1 year low of $40.50 and a 1 year high of $59.09. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.49 and a beta of 1.01. The company has a quick ratio of 1.06, a current ratio of 1.87 and a debt-to-equity ratio of 3.92.

Berry Global Group (NYSE:BERY) last announced its earnings results on Friday, February 1st. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Berry Global Group had a return on equity of 33.85% and a net margin of 5.22%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Berry Global Group’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Berry Global Group Inc will post 3.85 EPS for the current fiscal year.

In related news, EVP Jason K. Greene sold 10,000 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $50.05, for a total value of $500,500.00. Following the completion of the sale, the executive vice president now directly owns 750 shares of the company’s stock, valued at approximately $37,537.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jason K. Greene sold 2,545 shares of the stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $52.50, for a total value of $133,612.50. Following the completion of the sale, the executive vice president now directly owns 2,595 shares of the company’s stock, valued at $136,237.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock valued at $2,151,469. 1.60% of the stock is currently owned by company insiders.

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Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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