Berry Global Group Inc (BERY) Stake Lessened by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Berry Global Group Inc (NYSE:BERY) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,647 shares of the industrial products company’s stock after selling 2,603 shares during the quarter. Rhumbline Advisers owned about 0.10% of Berry Global Group worth $6,177,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Berry Global Group by 13.3% in the 2nd quarter. Victory Capital Management Inc. now owns 82,647 shares of the industrial products company’s stock valued at $3,797,000 after buying an additional 9,688 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in Berry Global Group by 258.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 94,319 shares of the industrial products company’s stock worth $4,333,000 after buying an additional 67,988 shares during the period. Beach Point Capital Management LP boosted its holdings in Berry Global Group by 25.3% in the 2nd quarter. Beach Point Capital Management LP now owns 323,423 shares of the industrial products company’s stock worth $14,858,000 after buying an additional 65,380 shares during the period. Nicola Wealth Management LTD. bought a new position in Berry Global Group in the 2nd quarter valued at $2,577,000. Finally, Dean Capital Investments Management LLC bought a new position in Berry Global Group in the 2nd quarter valued at $441,000. 95.38% of the stock is owned by hedge funds and other institutional investors.

NYSE:BERY opened at $49.48 on Wednesday. Berry Global Group Inc has a one year low of $40.50 and a one year high of $61.71. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.13 and a current ratio of 1.85. The stock has a market cap of $6.60 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 0.80 and a beta of 1.22.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Thursday, November 15th. The industrial products company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.88 by $0.02. Berry Global Group had a net margin of 6.30% and a return on equity of 34.77%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Research analysts anticipate that Berry Global Group Inc will post 3.78 EPS for the current fiscal year.

Several research firms have recently weighed in on BERY. Zacks Investment Research restated a “sell” rating on shares of Berry Global Group in a research report on Monday, November 12th. Citigroup boosted their price objective on shares of Berry Global Group from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 16th. Cfra restated a “buy” rating and issued a $57.00 price objective on shares of Berry Global Group in a research report on Thursday, September 6th. ValuEngine raised shares of Berry Global Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 13th. Finally, TheStreet lowered shares of Berry Global Group from a “b” rating to a “c+” rating in a research note on Monday, October 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.57.

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About Berry Global Group

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.

See Also: Compound Annual Growth Rate (CAGR)

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

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