Two Sigma Investments LP lifted its holdings in shares of Berry Global Group Inc (NYSE:BERY) by 113.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 632,471 shares of the industrial products company’s stock after purchasing an additional 336,409 shares during the quarter. Two Sigma Investments LP owned 0.48% of Berry Global Group worth $37,107,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. lifted its position in Berry Global Group by 56.0% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 49,275 shares of the industrial products company’s stock worth $2,791,000 after buying an additional 17,680 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its position in Berry Global Group by 17.7% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 11,000 shares of the industrial products company’s stock worth $623,000 after buying an additional 1,654 shares during the last quarter. 361 Capital LLC bought a new stake in Berry Global Group in the 3rd quarter worth approximately $857,000. California Public Employees Retirement System lifted its position in Berry Global Group by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 296,410 shares of the industrial products company’s stock worth $16,792,000 after buying an additional 13,520 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Berry Global Group by 21.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 130,020 shares of the industrial products company’s stock worth $7,366,000 after buying an additional 22,572 shares during the last quarter. 94.82% of the stock is owned by institutional investors.
A number of research firms recently weighed in on BERY. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Tuesday, February 6th. SunTrust Banks boosted their target price on Berry Global Group to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Barclays dropped their target price on Berry Global Group from $71.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. BMO Capital Markets upgraded Berry Global Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Finally, Bank of America boosted their price objective on Berry Global Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.00.
In other news, Director Paula A. Sneed purchased 1,000 shares of Berry Global Group stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average cost of $53.63 per share, with a total value of $53,630.00. Following the completion of the purchase, the director now directly owns 1,050 shares in the company, valued at $56,311.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.
BERY stock traded down $0.22 on Wednesday, hitting $54.76. The stock had a trading volume of 753,348 shares, compared to its average volume of 1,132,995. The company has a quick ratio of 0.96, a current ratio of 1.72 and a debt-to-equity ratio of 4.69. Berry Global Group Inc has a 52-week low of $47.19 and a 52-week high of $61.71. The stock has a market capitalization of $7,297.34, a PE ratio of 16.46, a PEG ratio of 0.73 and a beta of 1.04.
Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. analysts forecast that Berry Global Group Inc will post 3.79 earnings per share for the current fiscal year.
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Berry Global Group Company Profile
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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