Tributary Capital Management LLC lifted its holdings in Berry Global Group Inc (NYSE:BERY) by 392.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,600 shares of the industrial products company’s stock after purchasing an additional 20,400 shares during the quarter. Tributary Capital Management LLC’s holdings in Berry Global Group were worth $1,216,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Berry Global Group by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 521,525 shares of the industrial products company’s stock worth $27,428,000 after acquiring an additional 29,970 shares in the last quarter. Northern Trust Corp raised its position in Berry Global Group by 0.6% during the second quarter. Northern Trust Corp now owns 627,419 shares of the industrial products company’s stock worth $32,996,000 after acquiring an additional 3,811 shares in the last quarter. APG Asset Management N.V. bought a new stake in Berry Global Group during the second quarter worth $3,445,000. Bank of Nova Scotia raised its position in Berry Global Group by 2.4% during the second quarter. Bank of Nova Scotia now owns 20,488 shares of the industrial products company’s stock worth $1,077,000 after acquiring an additional 488 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in Berry Global Group by 8.5% during the second quarter. HighTower Advisors LLC now owns 11,837 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 926 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of BERY opened at $47.66 on Friday. The firm has a market capitalization of $6.09 billion, a PE ratio of 13.98, a PEG ratio of 0.90 and a beta of 1.28. The company’s 50-day moving average is $46.74 and its 200-day moving average is $44.21. Berry Global Group Inc has a fifty-two week low of $36.98 and a fifty-two week high of $59.16. The company has a debt-to-equity ratio of 6.96, a current ratio of 1.84 and a quick ratio of 1.19.
Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.16. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.08 billion. Berry Global Group had a net margin of 4.55% and a return on equity of 29.77%. The company’s revenue was up 47.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Analysts predict that Berry Global Group Inc will post 4.1 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on BERY. Bank of America raised shares of Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Wednesday, September 25th. They noted that the move was a valuation call. ValuEngine raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Thursday, November 21st. Citigroup dropped their price objective on shares of Berry Global Group from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Morgan Stanley reissued a “hold” rating and issued a $51.00 price objective (up from $49.00) on shares of Berry Global Group in a research report on Monday, November 25th. Finally, Barclays began coverage on shares of Berry Global Group in a research report on Thursday. They issued an “equal weight” rating and a $50.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Berry Global Group has an average rating of “Buy” and a consensus price target of $55.22.
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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