Two Sigma Investments LP grew its stake in shares of Berry Global Group Inc (NYSE:BERY) by 113.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 632,471 shares of the industrial products company’s stock after purchasing an additional 336,409 shares during the quarter. Two Sigma Investments LP’s holdings in Berry Global Group were worth $37,107,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in BERY. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $111,000. Cerebellum GP LLC purchased a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $123,000. American International Group Inc. purchased a new stake in shares of Berry Global Group during the fourth quarter valued at approximately $180,000. Crossmark Global Holdings Inc. purchased a new stake in Berry Global Group in the fourth quarter worth $207,000. Finally, MAI Capital Management purchased a new stake in Berry Global Group in the fourth quarter worth $218,000. 94.86% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Paula A. Sneed purchased 1,000 shares of Berry Global Group stock in a transaction dated Monday, March 5th. The stock was purchased at an average cost of $53.63 per share, for a total transaction of $53,630.00. Following the completion of the acquisition, the director now directly owns 1,050 shares of the company’s stock, valued at $56,311.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. Berry Global Group had a return on equity of 47.10% and a net margin of 6.13%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. equities research analysts forecast that Berry Global Group Inc will post 3.79 EPS for the current fiscal year.
BERY has been the subject of a number of research analyst reports. BidaskClub lowered Berry Global Group from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Deutsche Bank raised their price target on Berry Global Group from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Robert W. Baird raised their price target on Berry Global Group from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Royal Bank of Canada raised their price target on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 20th. Finally, BMO Capital Markets raised their price target on Berry Global Group from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $68.00.
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About Berry Global Group
Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.
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