Berry Global Group, Inc. (NYSE:BERY) Shares Sold by Luminus Management LLC

Luminus Management LLC lowered its position in shares of Berry Global Group, Inc. (NYSE:BERY) by 69.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 58,627 shares of the industrial products company’s stock after selling 130,465 shares during the quarter. Berry Global Group comprises about 4.4% of Luminus Management LLC’s portfolio, making the stock its 5th largest position. Luminus Management LLC owned about 0.05% of Berry Global Group worth $3,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BERY. Geode Capital Management LLC lifted its holdings in shares of Berry Global Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,989,350 shares of the industrial products company’s stock valued at $128,691,000 after buying an additional 6,833 shares during the period. Khrom Capital Management LLC increased its stake in shares of Berry Global Group by 14.8% in the 4th quarter. Khrom Capital Management LLC now owns 1,630,007 shares of the industrial products company’s stock valued at $105,413,000 after purchasing an additional 210,046 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Berry Global Group in the 4th quarter valued at about $105,092,000. Norges Bank purchased a new position in shares of Berry Global Group in the 4th quarter valued at about $91,526,000. Finally, Magnetar Financial LLC purchased a new position in shares of Berry Global Group in the 4th quarter valued at about $71,882,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group lifted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. StockNews.com assumed coverage on Berry Global Group in a research note on Monday. They issued a “buy” rating for the company. Finally, Truist Financial cut their price target on Berry Global Group from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.29.

Berry Global Group Price Performance

NYSE:BERY opened at $67.69 on Monday. Berry Global Group, Inc. has a 12 month low of $57.52 and a 12 month high of $74.24. The stock has a 50 day moving average of $68.44 and a two-hundred day moving average of $68.51. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The firm has a market cap of $7.84 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.60 billion. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 earnings per share. On average, analysts expect that Berry Global Group, Inc. will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.