Raymond James & Associates trimmed its position in Berry Global Group Inc (NYSE:BERY) by 29.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,456 shares of the industrial products company’s stock after selling 108,132 shares during the period. Raymond James & Associates’ holdings in Berry Global Group were worth $13,977,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of BERY. Meeder Asset Management Inc. bought a new stake in shares of Berry Global Group in the fourth quarter valued at about $39,000. Private Capital Group LLC lifted its holdings in shares of Berry Global Group by 236.5% in the first quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 726 shares in the last quarter. Enlightenment Research LLC bought a new stake in shares of Berry Global Group in the fourth quarter valued at about $57,000. First Interstate Bank lifted its holdings in shares of Berry Global Group by 29.6% in the first quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 345 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Berry Global Group in the fourth quarter valued at about $132,000. Institutional investors own 94.80% of the company’s stock.
BERY opened at $47.75 on Friday. 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 cap of $6.38 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 3.72, a quick ratio of 1.19 and a current ratio of 2.01.
Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.14). Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue was down .9% on a year-over-year basis. Equities research analysts predict that Berry Global Group Inc will post 3.64 EPS for the current year.
A number of brokerages have recently commented on BERY. Bank of America began coverage on Berry Global Group in a report on Thursday. They issued a “buy” rating on the stock. Zacks Investment Research lowered Berry Global Group from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Morgan Stanley set a $60.00 target price on Berry Global Group and gave the stock a “hold” rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets upped their target price on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. One 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 target price of $60.40.
In related news, EVP Jason K. Greene sold 7,455 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $52.63, for a total transaction of $392,356.65. Following the sale, the executive vice president now owns 7,705 shares in the company, valued at $405,514.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason K. Greene sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $57.50, for a total value of $575,000.00. Following the sale, the executive vice president now owns 10,250 shares in the company, valued at approximately $589,375. The disclosure for this sale can be found here. Insiders have sold 27,455 shares of company stock worth $1,517,357 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.
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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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