Neuburgh Advisers LLC Raises Stock Position in Berry Global Group Inc (NYSE:BERY)

Neuburgh Advisers LLC boosted its holdings in shares of Berry Global Group Inc (NYSE:BERY) by 106.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,116 shares of the industrial products company’s stock after purchasing an additional 8,844 shares during the period. Neuburgh Advisers LLC’s holdings in Berry Global Group were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC raised its stake in shares of Berry Global Group by 66.7% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in Berry Global Group during the first quarter worth $27,000. Heritage Wealth Advisors purchased a new stake in Berry Global Group during the second quarter worth $47,000. SG Americas Securities LLC grew its position in Berry Global Group by 21.6% during the first quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock valued at $149,000 after buying an additional 492 shares during the period. Finally, NumerixS Investment Technologies Inc acquired a new stake in Berry Global Group during the first quarter valued at $162,000. Institutional investors own 94.80% of the company’s stock.

A number of brokerages have weighed in on BERY. Wells Fargo & Co began coverage on shares of Berry Global Group in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 price objective for the company. ValuEngine lowered shares of Berry Global Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. began coverage on Berry Global Group in a research report on Tuesday, July 16th. They set an “overweight” rating and a $63.00 target price on the stock. Goldman Sachs Group restated a “buy” rating and issued a $52.00 price target on shares of Berry Global Group in a research note on Thursday, August 22nd. Finally, Bank of America cut Berry Global Group from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $60.86.

Berry Global Group stock traded down $0.85 during trading on Wednesday, reaching $38.82. The company had a trading volume of 27,380 shares, compared to its average volume of 1,034,878. The firm has a market capitalization of $5.20 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. The firm’s 50-day simple moving average is $42.52 and its 200 day simple moving average is $50.32. 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 1-year low of $37.94 and a 1-year high of $59.16.

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 for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). The company had revenue of $1.94 billion for 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 business’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. Analysts anticipate that Berry Global Group Inc will post 3.41 EPS 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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