Swiss National Bank boosted its stake in shares of Berry Global Group Inc (NYSE:BERY) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,418 shares of the industrial products company’s stock after acquiring an additional 2,100 shares during the quarter. Swiss National Bank owned 0.17% of Berry Global Group worth $10,539,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in BERY. Massey Quick Simon & CO. LLC increased its stake in shares of Berry Global Group by 100.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 3,202 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,601 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Berry Global Group by 154.7% in the first quarter. Meeder Asset Management Inc. now owns 3,504 shares of the industrial products company’s stock valued at $192,000 after buying an additional 2,128 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Berry Global Group in the first quarter valued at $233,000. IBM Retirement Fund acquired a new stake in shares of Berry Global Group in the first quarter valued at $247,000. Finally, Atria Investments LLC acquired a new stake in shares of Berry Global Group in the second quarter valued at $212,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.
A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 24th. Barclays lowered their target price on Berry Global Group from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, May 9th. ValuEngine lowered Berry Global Group from a “sell” rating to a “strong sell” rating in a research note on Friday, June 1st. KeyCorp restated a “hold” rating on shares of Berry Global Group in a research note on Friday, August 3rd. Finally, Jefferies Financial Group assumed coverage on Berry Global Group in a research note on Friday, May 18th. They issued a “buy” rating and a $67.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Berry Global Group has an average rating of “Buy” and a consensus target price of $66.55.
Berry Global Group stock opened at $47.27 on Wednesday. The stock has a market capitalization of $6.29 billion, a P/E ratio of 14.42, a PEG ratio of 0.71 and a beta of 1.05. Berry Global Group Inc has a 12-month low of $45.24 and a 12-month high of $61.71. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 4.41.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.09). The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. Berry Global Group had a net margin of 6.15% and a return on equity of 35.88%. Berry Global Group’s 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. equities analysts predict that Berry Global Group Inc will post 3.36 earnings per share 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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