Turtle Creek Asset Management Inc. Sells 1,297,930 Shares of Berry Global Group, Inc. (NYSE:BERY)

Turtle Creek Asset Management Inc. lowered its stake in Berry Global Group, Inc. (NYSE:BERY) by 33.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,615,849 shares of the industrial products company’s stock after selling 1,297,930 shares during the quarter. Berry Global Group makes up approximately 4.4% of Turtle Creek Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Turtle Creek Asset Management Inc. owned approximately 2.26% of Berry Global Group worth $169,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. grew its holdings in Berry Global Group by 89.0% during the fourth quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 306 shares during the period. Quadrant Capital Group LLC grew its holdings in Berry Global Group by 28.8% during the fourth quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 165 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 821 shares during the period. Venturi Wealth Management LLC grew its holdings in Berry Global Group by 463.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its holdings in shares of Berry Global Group by 7,390.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,626 shares during the period. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BERY shares. Truist Financial reduced their price objective on Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. UBS Group boosted their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, StockNews.com started coverage on Berry Global Group in a report on Monday, May 12th. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group presently has an average rating of “Hold” and an average target price of $74.29.

Berry Global Group Stock Down 2.8%

NYSE BERY opened at $67.69 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. Berry Global Group, Inc. has a 1-year low of $57.52 and a 1-year high of $74.24. The company has a 50 day moving average of $68.00 and a 200-day moving average of $68.45. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.