State of Alaska Department of Revenue reduced its stake in Berry Global Group Inc (NYSE:BERY) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,181 shares of the industrial products company’s stock after selling 288 shares during the quarter. State of Alaska Department of Revenue’s holdings in Berry Global Group were worth $1,113,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC raised its holdings in Berry Global Group by 66.7% during the first 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 purchased a new position in shares of Berry Global Group during the first quarter valued at about $27,000. Private Capital Group LLC grew its position in shares of Berry Global Group by 236.5% during the first quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 726 shares in the last quarter. First Interstate Bank grew its position in shares of Berry Global Group by 29.6% during the first quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 345 shares in the last quarter. Finally, First Hawaiian Bank grew its position in shares of Berry Global Group by 49.7% during the first quarter. First Hawaiian Bank now owns 2,522 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 837 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on BERY. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, July 8th. Morgan Stanley set a $60.00 price objective on shares of Berry Global Group and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Bank of America set a $80.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. set a €50.00 ($58.14) price objective on shares of Brenntag and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Wells Fargo & Co raised their price objective on shares of CoStar Group from $550.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Berry Global Group currently has a consensus rating of “Buy” and an average target price of $61.57.
Shares of Berry Global Group stock traded up $0.64 on Friday, hitting $54.49. 98,829 shares of the company traded hands, compared to its average volume of 1,156,631. The company has a 50 day moving average of $52.23. The company has a debt-to-equity ratio of 3.72, a quick ratio of 1.19 and a current ratio of 2.01. Berry Global Group Inc has a 52 week low of $40.50 and a 52 week high of $59.16. The stock has a market cap of $7.09 billion, a P/E ratio of 16.17, a PEG ratio of 1.54 and a beta of 1.20.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.14). Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Berry Global Group Inc will post 3.52 EPS for the current fiscal year.
Berry Global Group Company 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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