Engineers Gate Manager LP Has $1.47 Million Position in Berry Global Group (BERY)

Engineers Gate Manager LP increased its stake in shares of Berry Global Group (NYSE:BERY) by 524.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,803 shares of the industrial products company’s stock after acquiring an additional 22,508 shares during the period. Engineers Gate Manager LP’s holdings in Berry Global Group were worth $1,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Berry Global Group during the fourth quarter worth about $111,000. Cerebellum GP LLC purchased a new position in Berry Global Group during the fourth quarter worth approximately $123,000. American International Group Inc. purchased a new position in Berry Global Group during the fourth quarter worth approximately $180,000. Massey Quick Simon & CO. LLC boosted its position in Berry Global Group by 100.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,202 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 1,601 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Berry Global Group by 154.7% during the first quarter. Meeder Asset Management Inc. now owns 3,504 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 2,128 shares in the last quarter. 93.47% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on BERY shares. BMO Capital Markets upgraded Berry Global Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Wednesday, January 31st. Bank of America increased their price target on Berry Global Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Barclays lowered their price target on Berry Global Group from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Finally, Citigroup lowered their price target on Berry Global Group from $71.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, April 5th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. Berry Global Group currently has a consensus rating of “Buy” and a consensus price target of $66.58.

In other news, Director Paula A. Sneed bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were acquired at an average price of $53.63 per share, for a total transaction of $53,630.00. Following the completion of the transaction, the director now directly owns 1,050 shares in the company, valued at approximately $56,311.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

NYSE BERY opened at $48.35 on Friday. The company has a market capitalization of $6.37 billion, a PE ratio of 14.61, a PEG ratio of 0.66 and a beta of 1.06. Berry Global Group has a 1-year low of $47.30 and a 1-year high of $61.71. The company has a current ratio of 1.95, a quick ratio of 1.13 and a debt-to-equity ratio of 4.59.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, May 3rd. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.03). The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Berry Global Group had a net margin of 6.24% and a return on equity of 41.40%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS. research analysts predict that Berry Global Group will post 3.64 earnings per share for the current fiscal year.

About Berry Global Group

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It 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, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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