First Hawaiian Bank Takes Position in Berry Global Group Inc (BERY)

First Hawaiian Bank acquired a new position in shares of Berry Global Group Inc (NYSE:BERY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,660 shares of the industrial products company’s stock, valued at approximately $129,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in Berry Global Group by 1.6% in the 1st quarter. Legal & General Group Plc now owns 97,221 shares of the industrial products company’s stock valued at $5,328,000 after acquiring an additional 1,558 shares during the period. Polianta Ltd increased its position in Berry Global Group by 13.1% in the 2nd quarter. Polianta Ltd now owns 25,100 shares of the industrial products company’s stock valued at $1,153,000 after acquiring an additional 2,900 shares during the period. State of Alaska Department of Revenue increased its position in Berry Global Group by 22.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,790 shares of the industrial products company’s stock valued at $678,000 after acquiring an additional 2,680 shares during the period. Xact Kapitalforvaltning AB increased its position in Berry Global Group by 23.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,460 shares of the industrial products company’s stock valued at $848,000 after acquiring an additional 3,500 shares during the period. Finally, Harbour Capital Advisors LLC increased its position in Berry Global Group by 10.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 24,425 shares of the industrial products company’s stock valued at $1,124,000 after acquiring an additional 2,240 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

BERY opened at $45.10 on Friday. Berry Global Group Inc has a twelve month low of $40.50 and a twelve month high of $61.71. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 4.41. The firm has a market cap of $5.94 billion, a PE ratio of 14.69, a PEG ratio of 0.60 and a beta of 1.20.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Friday, August 3rd. The industrial products company reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.09). Berry Global Group had a return on equity of 35.88% and a net margin of 6.15%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Berry Global Group Inc will post 3.35 earnings per share for the current fiscal year.

Several brokerages have issued reports on BERY. Cfra restated a “buy” rating and issued a $57.00 price target on shares of Berry Global Group in a research report on Thursday, September 6th. KeyCorp restated a “hold” rating on shares of Berry Global Group in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Berry Global Group from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. ValuEngine upgraded shares of Berry Global Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 13th. Finally, TheStreet cut shares of Berry Global Group from a “b” rating to a “c+” rating in a research report on Monday, October 29th. Two equities research 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. The stock has a consensus rating of “Buy” and an average target price of $65.75.

Berry Global Group Profile

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

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