Wells Fargo & Company MN trimmed its holdings in Berry Global Group Inc (NYSE:BERY) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 603,946 shares of the industrial products company’s stock after selling 19,444 shares during the period. Wells Fargo & Company MN owned about 0.46% of Berry Global Group worth $31,761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in BERY. BNP Paribas Arbitrage SA lifted its stake in shares of Berry Global Group by 195.1% in the first quarter. BNP Paribas Arbitrage SA now owns 39,698 shares of the industrial products company’s stock valued at $2,139,000 after buying an additional 26,244 shares in the last quarter. World Asset Management Inc purchased a new stake in shares of Berry Global Group in the first quarter valued at about $252,000. SG Americas Securities LLC raised its holdings in shares of Berry Global Group by 21.6% in the first quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 492 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Berry Global Group in the first quarter valued at about $687,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Berry Global Group in the first quarter valued at about $254,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BERY opened at $38.60 on Wednesday. Berry Global Group Inc has a 52-week low of $38.01 and a 52-week high of $59.16. The company has a 50-day simple moving average of $44.61 and a 200 day simple moving average of $50.78. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.14 and a current ratio of 1.88. The company has a market capitalization of $5.17 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $0.96 EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, analysts forecast that Berry Global Group Inc will post 3.45 EPS for the current fiscal year.
BERY has been the subject of several analyst reports. Bank of America downgraded shares of Berry Global Group from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. initiated coverage on shares of Berry Global Group in a report on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 target price for the company. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 target price for the company in a report on Monday, July 8th. ValuEngine downgraded shares of Berry Global Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $52.00 target price on shares of Berry Global Group in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Berry Global Group currently has an average rating of “Buy” and an average target price of $60.38.
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.
Read More: Different Types of Derivatives
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.