Sheaff Brock Investment Advisors LLC Takes Position in Berry Global Group Inc (NYSE:BERY)

Sheaff Brock Investment Advisors LLC bought a new stake in Berry Global Group Inc (NYSE:BERY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,371 shares of the industrial products company’s stock, valued at approximately $861,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BERY. Stevens Capital Management LP boosted its holdings in shares of Berry Global Group by 260.4% in the 2nd quarter. Stevens Capital Management LP now owns 77,855 shares of the industrial products company’s stock valued at $4,094,000 after buying an additional 56,250 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Berry Global Group by 144.7% in the 2nd quarter. Janus Henderson Group PLC now owns 31,200 shares of the industrial products company’s stock valued at $1,641,000 after buying an additional 18,448 shares in the last quarter. Aperio Group LLC boosted its holdings in shares of Berry Global Group by 9.6% in the 2nd quarter. Aperio Group LLC now owns 11,084 shares of the industrial products company’s stock valued at $583,000 after buying an additional 975 shares in the last quarter. AGF Investments LLC boosted its holdings in shares of Berry Global Group by 53.3% in the 2nd quarter. AGF Investments LLC now owns 6,200 shares of the industrial products company’s stock valued at $326,000 after buying an additional 2,156 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Berry Global Group by 270.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 146,905 shares of the industrial products company’s stock valued at $7,726,000 after buying an additional 107,207 shares in the last quarter. 95.17% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on BERY shares. JPMorgan Chase & Co. started coverage on shares of Berry Global Group in a report on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 price target on the stock. TheStreet cut shares of Berry Global Group from a “b” rating to a “c+” rating in a report on Tuesday, July 30th. ValuEngine cut shares of Berry Global Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 price target on the stock in a report on Monday, July 8th. Finally, Wells Fargo & Co started coverage on shares of Berry Global Group in a report on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.57.

BERY stock traded down $1.13 during trading on Wednesday, reaching $39.95. The company had a trading volume of 38,222 shares, compared to its average volume of 1,556,624. The business has a 50-day simple moving average of $50.30. The firm has a market cap of $5.43 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.14 and a current ratio of 1.88. Berry Global Group Inc has a twelve month low of $40.50 and a twelve month high of $59.16.

Berry Global Group (NYSE:BERY) last released its earnings results on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.03 billion. Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.96 earnings per share. As a group, analysts expect that Berry Global Group Inc will post 3.5 earnings per share for the current year.

Berry Global Group 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.

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

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