MML Investors Services LLC increased its stake in Berry Global Group Inc (NYSE:BERY) by 164.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 26,016 shares of the industrial products company’s stock after purchasing an additional 16,161 shares during the quarter. MML Investors Services LLC’s holdings in Berry Global Group were worth $1,401,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC raised its stake in Berry Global Group by 66.7% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 200 shares during the period. Icon Wealth Partners LLC bought a new stake in Berry Global Group in the 1st quarter valued at $27,000. Private Capital Group LLC raised its stake in Berry Global Group by 236.5% in the 1st quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 726 shares during the period. Enlightenment Research LLC bought a new stake in Berry Global Group in the 4th quarter valued at $57,000. Finally, First Interstate Bank raised its stake in Berry Global Group by 29.6% in the 1st quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 345 shares during the period. 95.64% of the stock is owned by institutional investors.
A number of research firms recently weighed in on BERY. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the company a “hold” rating in a research note on Wednesday, April 17th. BMO Capital Markets increased their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. Zacks Investment Research cut Berry Global Group from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Finally, Bank of America began coverage on Berry Global Group in a research note on Thursday, May 23rd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.40.
In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $57.50, for a total transaction of $575,000.00. Following the transaction, the executive vice president now owns 10,250 shares in the company, valued at approximately $589,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.
BERY stock traded down $0.39 during trading hours on Wednesday, hitting $49.77. 7,903 shares of the stock were exchanged, compared to its average volume of 1,555,954. The company has a debt-to-equity ratio of 3.72, a current ratio of 2.01 and a quick ratio of 1.19. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 1.39 and a beta of 1.18. Berry Global Group Inc has a 12 month low of $40.50 and a 12 month high of $59.16.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.14). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Research analysts expect that Berry Global Group Inc will post 3.61 EPS for the current year.
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Berry Global Group 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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