Xact Kapitalforvaltning AB Has $820,000 Stake in Berry Global Group Inc (BERY)

Xact Kapitalforvaltning AB lifted its position in Berry Global Group Inc (NYSE:BERY) by 81.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,960 shares of the industrial products company’s stock after purchasing an additional 6,700 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Berry Global Group were worth $820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canyon Capital Advisors LLC grew its holdings in Berry Global Group by 11.1% during the 1st quarter. Canyon Capital Advisors LLC now owns 6,438,430 shares of the industrial products company’s stock worth $352,890,000 after acquiring an additional 643,825 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Berry Global Group by 3.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 5,857,695 shares of the industrial products company’s stock worth $343,671,000 after acquiring an additional 210,107 shares during the last quarter. BlackRock Inc. grew its holdings in Berry Global Group by 2.6% during the 4th quarter. BlackRock Inc. now owns 5,386,897 shares of the industrial products company’s stock worth $316,046,000 after acquiring an additional 136,987 shares during the last quarter. Luminus Management LLC grew its holdings in Berry Global Group by 54.9% during the 4th quarter. Luminus Management LLC now owns 3,815,703 shares of the industrial products company’s stock worth $223,867,000 after acquiring an additional 1,352,044 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Berry Global Group by 13.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,549,158 shares of the industrial products company’s stock worth $194,529,000 after acquiring an additional 417,585 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Bank of America decreased their price objective on shares of Berry Global Group from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, May 4th. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a report on Friday, June 15th. Vertical Research assumed coverage on shares of Berry Global Group in a report on Thursday, April 12th. They set a “buy” rating on the stock. ValuEngine lowered shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. Finally, Credit Suisse Group cut their target price on shares of Berry Global Group from $73.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, April 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $66.58.

Berry Global Group stock opened at $45.94 on Friday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.13 and a current ratio of 1.95. Berry Global Group Inc has a 1 year low of $45.60 and a 1 year high of $61.71. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, May 3rd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.03). Berry Global Group had a net margin of 6.24% and a return on equity of 41.40%. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. analysts forecast that Berry Global Group Inc will post 3.64 earnings per share for the current year.

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.

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

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