Insider Selling: Apollo Management Holdings Gp, Sells 14,728,218 Shares of Berry Plastics Group Stock (BERY)
Berry Plastics Group (NASDAQ:BERY) major shareholder Apollo Management Holdings Gp, sold 14,728,218 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $24.45, for a total value of $360,104,930.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of analysts have recently weighed in on BERY shares. Analysts at Bank of America raised their price target on shares of Berry Plastics Group to $29.00 in a research note on Monday, August 4th. Analysts at Macquarie reiterated an “outperform” rating on shares of Berry Plastics Group in a research note on Thursday, May 22nd. They now have a $30.00 price target on the stock, up previously from $28.00. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Berry Plastics Group presently has an average rating of “Buy” and an average price target of $29.67.
Shares of Berry Plastics Group (NASDAQ:BERY) traded up 0.04% during mid-day trading on Monday, hitting $24.51. The stock had a trading volume of 668,272 shares. Berry Plastics Group has a one year low of $18.09 and a one year high of $26.50. The stock’s 50-day moving average is $25.45 and its 200-day moving average is $23.92. The company has a market cap of $2.880 billion and a price-to-earnings ratio of 50.20.
Berry Plastics Group (NASDAQ:BERY) last released its earnings data on Friday, August 1st. The company reported $51.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $50.63. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. On average, analysts predict that Berry Plastics Group will post $1.32 earnings per share for the current fiscal year.
Berry Plastics Group, Inc (NASDAQ:BERY) is a provider of plastic consumer packaging and engineered materials.
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