Wedge Capital Management L L P NC Has $7.13 Million Stock Holdings in Berry Global Group Inc (NYSE:BERY)

Wedge Capital Management L L P NC grew its holdings in Berry Global Group Inc (NYSE:BERY) by 19.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 135,502 shares of the industrial products company’s stock after buying an additional 21,823 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.10% of Berry Global Group worth $7,126,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. TD Asset Management Inc. boosted its holdings in Berry Global Group by 17.3% in the second quarter. TD Asset Management Inc. now owns 23,624 shares of the industrial products company’s stock valued at $1,242,000 after acquiring an additional 3,479 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in Berry Global Group in the second quarter valued at about $861,000. Stevens Capital Management LP boosted its holdings in Berry Global Group by 260.4% in the second quarter. Stevens Capital Management LP now owns 77,855 shares of the industrial products company’s stock valued at $4,094,000 after acquiring an additional 56,250 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Berry Global Group by 144.7% in the second quarter. Janus Henderson Group PLC now owns 31,200 shares of the industrial products company’s stock valued at $1,641,000 after acquiring an additional 18,448 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in Berry Global Group by 9.6% in the second quarter. Aperio Group LLC now owns 11,084 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 975 shares during the last quarter. Institutional investors own 95.17% of the company’s stock.

BERY traded up $0.13 during midday trading on Thursday, reaching $39.33. 11,221 shares of the company were exchanged, compared to its average volume of 2,020,196. The company has a quick ratio of 1.14, a current ratio of 1.88 and a debt-to-equity ratio of 3.52. Berry Global Group Inc has a one year low of $39.06 and a one year high of $59.16. The firm has a market cap of $5.20 billion, a PE ratio of 11.68, a P/E/G ratio of 1.01 and a beta of 1.17. The company’s 50-day simple moving average is $50.08.

Berry Global Group (NYSE:BERY) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $0.96 EPS. Berry Global Group’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Berry Global Group Inc will post 3.5 EPS for the current year.

Several research firms recently issued reports on BERY. Wells Fargo & Co began coverage on Berry Global Group in a report on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 price target on the stock. Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 price target on the stock in a report on Monday, July 8th. Bank of America cut Berry Global Group from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. began coverage on Berry Global Group in a report on Tuesday, July 16th. They issued an “overweight” rating and a $63.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.57.

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

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