Hancock Whitney Corp Acquires New Holdings in Berry Global Group Inc (NYSE:BERY)

Hancock Whitney Corp bought a new position in shares of Berry Global Group Inc (NYSE:BERY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,795 shares of the industrial products company’s stock, valued at approximately $608,000.

Other large investors have also recently made changes to their positions in the company. Cornerstone Advisors Inc. lifted its stake in shares of Berry Global Group by 42.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 900 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 269 shares during the period. Advisors Capital Management LLC lifted its stake in shares of Berry Global Group by 0.7% in the fourth quarter. Advisors Capital Management LLC now owns 60,753 shares of the industrial products company’s stock valued at $2,888,000 after purchasing an additional 449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Berry Global Group by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,996 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 744 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Berry Global Group in the fourth quarter valued at about $39,000. Finally, Paloma Partners Management Co lifted its stake in shares of Berry Global Group by 7.2% in the fourth quarter. Paloma Partners Management Co now owns 13,451 shares of the industrial products company’s stock valued at $639,000 after purchasing an additional 906 shares during the period. 97.34% of the stock is currently owned by institutional investors.

Several analysts recently commented on the stock. Morgan Stanley initiated coverage on shares of Berry Global Group in a research note on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 price objective for the company. BMO Capital Markets raised their target price on shares of Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Zacks Investment Research downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Citigroup raised their target price on shares of Berry Global Group from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.33.

Berry Global Group stock traded up $0.24 during trading on Friday, reaching $57.53. The company had a trading volume of 1,059,522 shares, compared to its average volume of 1,326,937. Berry Global Group Inc has a 12-month low of $40.50 and a 12-month high of $59.09. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.49 and a beta of 1.01. The company has a debt-to-equity ratio of 3.92, a quick ratio of 1.06 and a current ratio of 1.87.

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

In other news, EVP Jason K. Greene sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $50.05, for a total transaction of $500,500.00. Following the transaction, the executive vice president now directly owns 750 shares of the company’s stock, valued at $37,537.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jason K. Greene sold 7,455 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $52.63, for a total transaction of $392,356.65. Following the transaction, the executive vice president now directly owns 7,705 shares in the company, valued at $405,514.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock worth $2,151,469. 1.60% of the stock is currently owned by corporate 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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