12th Street Asset Management Company LLC Sells 46,965 Shares of Berry Global Group, Inc. (NYSE:BERY)

12th Street Asset Management Company LLC decreased its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 704,341 shares of the industrial products company’s stock after selling 46,965 shares during the period. Berry Global Group comprises 9.5% of 12th Street Asset Management Company LLC’s holdings, making the stock its largest holding. 12th Street Asset Management Company LLC’s holdings in Berry Global Group were worth $45,937,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BERY. Russell Investments Group Ltd. raised its stake in shares of Berry Global Group by 2,080.4% during the second quarter. Russell Investments Group Ltd. now owns 1,489,926 shares of the industrial products company’s stock valued at $97,170,000 after acquiring an additional 1,421,594 shares during the last quarter. Gates Capital Management Inc. bought a new position in Berry Global Group during the first quarter worth $56,679,000. EdgePoint Investment Group Inc. raised its stake in Berry Global Group by 4.2% during the first quarter. EdgePoint Investment Group Inc. now owns 16,343,964 shares of the industrial products company’s stock worth $1,003,519,000 after buying an additional 664,550 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Berry Global Group by 216.9% during the second quarter. PNC Financial Services Group Inc. now owns 937,229 shares of the industrial products company’s stock worth $61,125,000 after buying an additional 641,475 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Berry Global Group by 21.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,074,298 shares of the industrial products company’s stock worth $188,762,000 after buying an additional 537,532 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Shares of NYSE BERY traded down $0.09 during midday trading on Tuesday, hitting $62.36. The company’s stock had a trading volume of 5,999 shares, compared to its average volume of 935,707. The stock has a fifty day moving average price of $64.56 and a 200 day moving average price of $64.67. Berry Global Group, Inc. has a one year low of $45.68 and a one year high of $70.90. The company has a current ratio of 1.59, a quick ratio of 0.99 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $8.44 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.11 and a beta of 1.33.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.03. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.22 billion. Berry Global Group had a net margin of 5.31% and a return on equity of 31.45%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. On average, equities research analysts predict that Berry Global Group, Inc. will post 5.78 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the stock. Truist assumed coverage on shares of Berry Global Group in a research note on Monday, September 13th. They issued a “positive” rating and a $85.00 price target for the company. Truist Securities assumed coverage on shares of Berry Global Group in a research note on Tuesday, September 14th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $83.00 price target on shares of Berry Global Group in a research note on Friday, August 6th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $75.50.

Berry Global Group Profile

Berry Global Group, Inc engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials and Health, Hygiene & Specialties.

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

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