Burney Co. Cuts Position in Berry Global Group Inc (NYSE:BERY)

Burney Co. reduced its stake in shares of Berry Global Group Inc (NYSE:BERY) by 6.3% in the 1st quarter, Holdings Channel reports. The firm owned 36,884 shares of the industrial products company’s stock after selling 2,476 shares during the quarter. Burney Co.’s holdings in Berry Global Group were worth $1,987,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BERY. Tyers Asset Management LLC purchased a new stake in shares of Berry Global Group during the 1st quarter valued at $567,000. Hancock Whitney Corp grew its stake in shares of Berry Global Group by 58.9% during the 1st quarter. Hancock Whitney Corp now owns 20,334 shares of the industrial products company’s stock valued at $1,095,000 after buying an additional 7,539 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of Berry Global Group by 241.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 493,128 shares of the industrial products company’s stock valued at $26,565,000 after buying an additional 348,837 shares during the period. Northern Trust Corp grew its stake in shares of Berry Global Group by 0.8% during the 1st quarter. Northern Trust Corp now owns 623,608 shares of the industrial products company’s stock valued at $33,593,000 after buying an additional 4,986 shares during the period. Finally, Teza Capital Management LLC purchased a new stake in shares of Berry Global Group during the 1st quarter valued at $832,000. Hedge funds and other institutional investors own 95.64% of the company’s stock.

In related news, EVP Jason K. Greene sold 10,000 shares of Berry Global Group stock in a transaction 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 owns 10,250 shares in the company, valued at approximately $589,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

NYSE:BERY opened at $50.16 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 3.72. The firm has a market cap of $6.62 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. 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 posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.14). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.04 billion. Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 EPS. Sell-side analysts forecast that Berry Global Group Inc will post 3.61 EPS for the current year.

Several equities analysts recently weighed in on BERY shares. BMO Capital Markets lifted their target price on shares of Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Zacks Investment Research lowered shares of Berry Global Group from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Bank of America started coverage on shares of Berry Global Group in a report on Thursday, May 23rd. They set a “buy” rating on the stock. Finally, Morgan Stanley set a $60.00 target price on shares of Berry Global Group and gave the company a “hold” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Berry Global Group currently has a consensus rating of “Hold” and a consensus price target of $60.40.

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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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