Janus Henderson Group PLC bought a new stake in Berry Global Group Inc (NYSE:BERY) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,752 shares of the industrial products company’s stock, valued at approximately $687,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley boosted its position in shares of Berry Global Group by 143.5% in the third quarter. Morgan Stanley now owns 265,825 shares of the industrial products company’s stock valued at $12,864,000 after acquiring an additional 156,651 shares during the period. Vanguard Group Inc increased its position in Berry Global Group by 1.4% in the third quarter. Vanguard Group Inc now owns 11,429,603 shares of the industrial products company’s stock worth $553,077,000 after purchasing an additional 158,823 shares during the period. Virtu Financial LLC bought a new position in Berry Global Group during the fourth quarter worth about $294,000. Meeder Asset Management Inc. bought a new position in Berry Global Group during the fourth quarter worth about $39,000. Finally, Assenagon Asset Management S.A. bought a new position in Berry Global Group during the fourth quarter worth about $928,000. 95.64% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Jason K. Greene sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $57.50, for a total transaction of $575,000.00. Following the transaction, the executive vice president now directly owns 10,250 shares of the company’s stock, valued at $589,375. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.
NYSE:BERY traded up $0.59 during mid-day trading on Friday, reaching $50.75. 853,346 shares of the company’s stock traded hands, compared to its average volume of 1,533,811. 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 12-month low of $40.50 and a 12-month high of $59.16. The company has a market cap of $6.60 billion, a PE ratio of 15.06, a P/E/G ratio of 1.41 and a beta of 1.18.
Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.14). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. Berry Global Group’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts expect that Berry Global Group Inc will post 3.54 EPS for the current fiscal year.
Several research analysts have weighed in on the company. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the stock a “hold” rating in a research report on Wednesday, April 17th. BMO Capital Markets boosted their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. Zacks Investment Research downgraded Berry Global Group from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Finally, Bank of America began coverage on Berry Global Group in a research note on Thursday, May 23rd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $60.40.
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About Berry Global Group
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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