MML Investors Services LLC Sells 11,791 Shares of Berry Global Group Inc (NYSE:BERY)

MML Investors Services LLC decreased its position in shares of Berry Global Group Inc (NYSE:BERY) by 45.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,225 shares of the industrial products company’s stock after selling 11,791 shares during the quarter. MML Investors Services LLC’s holdings in Berry Global Group were worth $748,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Berry Global Group by 0.6% during the 1st quarter. BlackRock Inc. now owns 5,642,308 shares of the industrial products company’s stock worth $303,951,000 after acquiring an additional 35,742 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in Berry Global Group by 4.8% during the 1st quarter. Marshall Wace North America L.P. now owns 3,521,401 shares of the industrial products company’s stock worth $189,697,000 after acquiring an additional 162,244 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Berry Global Group by 685.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,125,757 shares of the industrial products company’s stock worth $60,644,000 after acquiring an additional 982,361 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Berry Global Group by 48.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 777,405 shares of the industrial products company’s stock worth $40,884,000 after acquiring an additional 254,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Berry Global Group by 28.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 757,488 shares of the industrial products company’s stock worth $39,837,000 after acquiring an additional 169,617 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE BERY traded down $0.43 during midday trading on Thursday, reaching $38.79. The company’s stock had a trading volume of 39,798 shares, compared to its average volume of 887,357. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 3.52. Berry Global Group Inc has a fifty-two week low of $37.94 and a fifty-two week high of $59.16. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.00 and a beta of 1.24. The stock has a 50 day simple moving average of $40.51 and a 200-day simple moving average of $49.88.

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 the Zacks’ consensus estimate of $1.00 by ($0.10). Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $0.96 earnings per share. Berry Global Group’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Berry Global Group Inc will post 3.41 EPS for the current year.

A number of research analysts have weighed in on BERY shares. ValuEngine lowered shares of Berry Global Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Wells Fargo & Co started coverage on shares of Berry Global Group in a research note on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 price target on the stock. Goldman Sachs Group reaffirmed a “buy” rating and issued a $52.00 price target on shares of Berry Global Group in a research note on Thursday, August 22nd. TheStreet lowered shares of Berry Global Group from a “b” rating to a “c+” rating in a research note on Tuesday, July 30th. Finally, Bank of America lowered shares of Berry Global Group from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $60.86.

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.

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

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