Holocene Advisors LP Acquires Shares of 64,687 Berry Global Group, Inc. (NYSE:BERY)

Holocene Advisors LP acquired a new stake in Berry Global Group, Inc. (NYSE:BERY) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 64,687 shares of the industrial products company’s stock, valued at approximately $3,972,000.

A number of other large investors have also recently modified their holdings of BERY. Los Angeles Capital Management LLC acquired a new stake in Berry Global Group in the fourth quarter valued at approximately $523,000. M&T Bank Corp grew its position in Berry Global Group by 9.2% in the fourth quarter. M&T Bank Corp now owns 8,210 shares of the industrial products company’s stock valued at $461,000 after acquiring an additional 690 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Berry Global Group in the fourth quarter valued at approximately $726,000. Stifel Financial Corp grew its position in Berry Global Group by 14.3% in the fourth quarter. Stifel Financial Corp now owns 101,149 shares of the industrial products company’s stock valued at $5,683,000 after acquiring an additional 12,681 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Berry Global Group by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,391 shares of the industrial products company’s stock valued at $57,954,000 after acquiring an additional 115,196 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

BERY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Berry Global Group from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. BMO Capital Markets increased their target price on Berry Global Group from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, May 21st. The Goldman Sachs Group initiated coverage on Berry Global Group in a research note on Friday, April 9th. They set a “buy” rating and a $75.00 target price for the company. Wells Fargo & Company increased their target price on Berry Global Group from $72.00 to $80.00 in a research note on Wednesday, May 5th. Finally, Morgan Stanley increased their target price on Berry Global Group from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, May 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.46.

Shares of BERY opened at $64.08 on Thursday. The stock’s fifty day moving average price is $66.63. Berry Global Group, Inc. has a 12-month low of $45.68 and a 12-month high of $70.90. The company has a market capitalization of $8.59 billion, a PE ratio of 12.47, a PEG ratio of 1.11 and a beta of 1.32. The company has a debt-to-equity ratio of 3.71, a current ratio of 1.73 and a quick ratio of 1.10.

Berry Global Group (NYSE:BERY) last posted its earnings results on Monday, May 3rd. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.28. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Berry Global Group had a return on equity of 34.88% and a net margin of 5.61%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted $1.19 earnings per share. Sell-side analysts predict that Berry Global Group, Inc. will post 5.81 EPS for the current year.

In other Berry Global Group news, Director Carl J. Rickertsen sold 11,000 shares of the firm’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $67.02, for a total value of $737,220.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $737,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President William J. Norman sold 18,000 shares of the firm’s stock in a transaction on Friday, May 14th. The shares were sold at an average price of $68.92, for a total value of $1,240,560.00. Following the completion of the sale, the president now owns 18,000 shares in the company, valued at $1,240,560. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $6,628,780 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Berry Global Group Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. Its Consumer Packaging International segment offers closures, dispensing systems, and applicators; inhalers and dose counters; polythene films; packaging solutions for consumer and industrial applications in personal care, beverage, and food markets; injection molded and thermoformed containers, and lids; and molds and molded components, as well as recycles rigid and flexible end of life materials from industrial and consumer sources.

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

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