Russell Investments Group Ltd. trimmed its holdings in Berry Global Group Inc (NYSE:BERY) by 46.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,950 shares of the industrial products company’s stock after selling 32,103 shares during the quarter. Russell Investments Group Ltd.’s holdings in Berry Global Group were worth $1,697,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BERY. Park West Asset Management LLC purchased a new position in Berry Global Group in the 1st quarter worth approximately $50,481,000. Canyon Capital Advisors LLC lifted its stake in Berry Global Group by 11.1% in 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 purchasing an additional 643,825 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Berry Global Group by 68.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 895,964 shares of the industrial products company’s stock worth $49,108,000 after purchasing an additional 363,664 shares in the last quarter. Millennium Management LLC lifted its stake in Berry Global Group by 18.6% in the 1st quarter. Millennium Management LLC now owns 1,943,440 shares of the industrial products company’s stock worth $106,520,000 after purchasing an additional 304,292 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Berry Global Group by 22.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,614,470 shares of the industrial products company’s stock worth $74,168,000 after purchasing an additional 295,950 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on BERY shares. ValuEngine lowered shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a research note on Friday, June 1st. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a research note on Friday, June 15th. KeyCorp restated a “hold” rating on shares of Berry Global Group in a report on Friday, August 3rd. Finally, Cfra restated a “buy” rating and set a $57.00 price target on shares of Berry Global Group in a report on Thursday, September 6th. Two investment 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’s stock. Berry Global Group currently has a consensus rating of “Buy” and an average price target of $65.75.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.09). The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. Berry Global Group had a return on equity of 35.88% and a net margin of 6.15%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. sell-side analysts expect that Berry Global Group Inc will post 3.36 EPS for the current fiscal 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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