Macquarie Group Ltd. lowered its position in shares of Berry Global Group (NYSE:BERY) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,787,323 shares of the industrial products company’s stock after selling 4,784 shares during the period. Macquarie Group Ltd. owned 2.12% of Berry Global Group worth $163,532,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BERY. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $111,000. Cerebellum GP LLC bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $123,000. American International Group Inc. bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $180,000. Crossmark Global Holdings Inc. bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $207,000. Finally, MAI Capital Management bought a new position in shares of Berry Global Group during the fourth quarter worth approximately $218,000. Institutional investors own 94.82% of the company’s stock.
Shares of BERY stock opened at $54.05 on Friday. The firm has a market capitalization of $7,244.86, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.73 and a beta of 1.05. Berry Global Group has a fifty-two week low of $47.49 and a fifty-two week high of $61.71. The company has a debt-to-equity ratio of 4.69, a quick ratio of 0.96 and a current ratio of 1.72.
Berry Global Group (NYSE:BERY) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. analysts forecast that Berry Global Group will post 3.79 earnings per share for the current year.
In other Berry Global Group news, Director Paula A. Sneed bought 1,000 shares of Berry Global Group stock in a transaction on Monday, March 5th. The shares were purchased at an average price of $53.63 per share, with a total value of $53,630.00. Following the acquisition, the director now owns 1,050 shares in the company, valued at approximately $56,311.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.
A number of equities analysts have commented on BERY shares. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Wednesday, January 31st. Bank of America raised their price objective on Berry Global Group from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Citigroup lowered their price objective on Berry Global Group from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets upgraded Berry Global Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Finally, Barclays lowered their price objective on Berry Global Group from $71.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $67.58.
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Berry Global Group Profile
Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It 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, vinyl-coated and carton sealing, electrical, 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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