Landsberg Bennett & Dubbaneh LLC Trims Stake in Berry Global Group Inc (NYSE:BERY)

Landsberg Bennett & Dubbaneh LLC reduced its holdings in shares of Berry Global Group Inc (NYSE:BERY) by 34.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,768 shares of the industrial products company’s stock after selling 15,349 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in Berry Global Group were worth $1,131,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nuveen Asset Management LLC bought a new position in shares of Berry Global Group in the second quarter worth approximately $327,078,000. Eminence Capital LP boosted its position in shares of Berry Global Group by 11.6% in the second quarter. Eminence Capital LP now owns 12,280,431 shares of the industrial products company’s stock worth $645,828,000 after purchasing an additional 1,274,346 shares during the period. Marshall Wace North America L.P. boosted its position in shares of Berry Global Group by 22.2% in the second quarter. Marshall Wace North America L.P. now owns 4,301,974 shares of the industrial products company’s stock worth $226,241,000 after purchasing an additional 780,573 shares during the period. Southpoint Capital Advisors LP bought a new position in shares of Berry Global Group in the second quarter worth approximately $36,813,000. Finally, Canyon Capital Advisors LLC boosted its position in shares of Berry Global Group by 13.7% in the second quarter. Canyon Capital Advisors LLC now owns 5,786,713 shares of the industrial products company’s stock worth $304,323,000 after purchasing an additional 699,013 shares during the period. 94.65% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BERY traded up $0.79 during midday trading on Friday, reaching $39.03. 882,164 shares of the company were exchanged, compared to its average volume of 1,018,204. The company has a current ratio of 1.88, a quick ratio of 1.14 and a debt-to-equity ratio of 3.52. The business’s fifty day moving average is $39.07 and its two-hundred day moving average is $48.21. Berry Global Group Inc has a one year low of $36.98 and a one year high of $59.16. The stock has a market cap of $4.96 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $0.96 EPS. Berry Global Group’s revenue was down 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Berry Global Group Inc will post 3.33 EPS for the current year.

A number of equities 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 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 for the company in a research report on Monday, July 8th. Bank of America upgraded shares of Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Wednesday, September 25th. They noted that the move was a valuation call. TheStreet lowered shares of Berry Global Group from a “b” rating to a “c+” rating in a research report on Tuesday, July 30th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $52.00 price target on shares of Berry Global Group in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.63.

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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