Great West Life Assurance Co. Can boosted its position in shares of Berry Global Group Inc (NYSE:BERY) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,924 shares of the industrial products company’s stock after purchasing an additional 1,285 shares during the period. Great West Life Assurance Co. Can’s holdings in Berry Global Group were worth $730,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its holdings in Berry Global Group by 42.6% during the third quarter. Cornerstone Advisors Inc. now owns 900 shares of the industrial products company’s stock valued at $44,000 after buying an additional 269 shares in the last quarter. Advisors Capital Management LLC increased 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 worth $2,888,000 after purchasing an additional 449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $428,000 after purchasing an additional 744 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Berry Global Group in the fourth quarter worth about $39,000. Finally, Pendal Group Ltd increased its stake in shares of Berry Global Group by 18.0% in the fourth quarter. Pendal Group Ltd now owns 7,043 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 1,075 shares during the period. 97.34% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. Morgan Stanley set a $60.00 price objective on Berry Global Group and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Tuesday, January 15th. Citigroup lifted their price objective on Berry Global Group from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, January 7th. Finally, BMO Capital Markets lifted their price objective on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note 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 presently has a consensus rating of “Buy” and an average target price of $63.33.
Berry Global Group (NYSE:BERY) last released its earnings results on Friday, February 1st. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.93 billion. Berry Global Group had a return on equity of 33.85% and a net margin of 5.22%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. On average, equities research analysts anticipate that Berry Global Group Inc will post 3.85 EPS for the current year.
In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of Berry Global Group stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $50.05, for a total transaction of $500,500.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jason K. Greene sold 7,455 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $52.63, for a total value of $392,356.65. Following the completion of 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. Insiders have sold 40,000 shares of company stock worth $2,151,469 over the last ninety days. Company insiders own 1.60% of the company’s stock.
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About Berry Global Group
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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