Victory Capital Management Inc. boosted its stake in Berry Global Group Inc (NYSE:BERY) by 732.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 754,100 shares of the industrial products company’s stock after acquiring an additional 663,561 shares during the quarter. Victory Capital Management Inc. owned 0.58% of Berry Global Group worth $40,623,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc lifted its position in Berry Global Group by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 11,429,603 shares of the industrial products company’s stock valued at $553,077,000 after acquiring an additional 158,823 shares in the last quarter. BlackRock Inc. lifted its position in Berry Global Group by 2.5% during the 4th quarter. BlackRock Inc. now owns 5,606,566 shares of the industrial products company’s stock worth $266,478,000 after buying an additional 135,189 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Berry Global Group by 8.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,145,573 shares of the industrial products company’s stock worth $197,038,000 after buying an additional 328,906 shares in the last quarter. Macquarie Group Ltd. lifted its position in Berry Global Group by 1.6% during the 4th quarter. Macquarie Group Ltd. now owns 2,530,897 shares of the industrial products company’s stock worth $120,294,000 after buying an additional 38,752 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Berry Global Group by 8.7% during the 1st quarter. Bank of Montreal Can now owns 2,402,847 shares of the industrial products company’s stock worth $129,442,000 after buying an additional 192,183 shares in the last quarter. 96.70% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BERY traded up $0.34 on Thursday, hitting $48.90. 72,885 shares of the company’s stock were exchanged, compared to its average volume of 1,611,595. The company has a debt-to-equity ratio of 3.72, a current ratio of 2.01 and a quick ratio of 1.19. Berry Global Group Inc has a 52 week low of $40.50 and a 52 week high of $59.16. The stock has a market capitalization of $6.53 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.03.
Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.14). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. On average, analysts anticipate that Berry Global Group Inc will post 3.64 earnings per share for the current fiscal year.
BERY has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Berry Global Group in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $53.00 price target on the stock. Zacks Investment Research cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, BMO Capital Markets boosted their price target on shares of Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Berry Global Group currently has an average rating of “Hold” and a consensus price target of $61.50.
In other news, EVP Jason K. Greene sold 2,545 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $52.50, for a total value of $133,612.50. Following the sale, the executive vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $136,237.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jason K. Greene sold 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the sale, the executive vice president now directly owns 10,250 shares in the company, valued at $563,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,000 shares of company stock worth $1,650,969. 1.60% of the stock is owned by insiders.
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Berry Global Group 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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