Wedge Capital Management L L P NC bought a new position in shares of Berry Global Group Inc (NYSE:BERY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 113,679 shares of the industrial products company’s stock, valued at approximately $6,124,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its holdings in shares of Berry Global Group by 1.4% during the third quarter. Vanguard Group Inc now owns 11,429,603 shares of the industrial products company’s stock worth $553,077,000 after purchasing an additional 158,823 shares during the period. BlackRock Inc. lifted its holdings in shares of Berry Global Group by 2.5% during the fourth quarter. BlackRock Inc. now owns 5,606,566 shares of the industrial products company’s stock worth $266,478,000 after purchasing an additional 135,189 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Berry Global Group by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,145,573 shares of the industrial products company’s stock worth $197,038,000 after purchasing an additional 328,906 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Berry Global Group by 1.6% during the fourth quarter. Macquarie Group Ltd. now owns 2,530,897 shares of the industrial products company’s stock worth $120,294,000 after purchasing an additional 38,752 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Berry Global Group by 8.7% during the first quarter. Bank of Montreal Can now owns 2,402,847 shares of the industrial products company’s stock worth $129,442,000 after purchasing an additional 192,183 shares during the period. 97.61% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on BERY. BMO Capital Markets lifted their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Zacks Investment Research cut Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, Morgan Stanley began coverage on Berry Global Group in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $53.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.50.
Shares of BERY stock opened at $50.90 on Friday. The company has a debt-to-equity ratio of 3.72, a current ratio of 2.01 and a quick ratio of 1.19. The company has a market cap of $6.72 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.40 and a beta of 1.03. Berry Global Group Inc has a twelve month low of $40.50 and a twelve month high of $59.16.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.14). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts predict that Berry Global Group Inc will post 3.64 earnings per share for the current year.
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.
Featured Article: Average Daily Trade Volume – What It Means In Stock Trading
Want to see what other hedge funds are holding BERY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Berry Global Group Inc (NYSE:BERY).
Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.