Berry Global Group Inc (BERY) Stake Lowered by Stanley Laman Group Ltd.

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Stanley Laman Group Ltd. reduced its holdings in Berry Global Group Inc (NYSE:BERY) by 9.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 69,149 shares of the industrial products company’s stock after selling 7,104 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Berry Global Group were worth $3,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Berry Global Group during the 2nd quarter worth $105,000. First Hawaiian Bank acquired a new position in Berry Global Group during the 3rd quarter worth $129,000. Nisa Investment Advisors LLC acquired a new position in Berry Global Group during the 3rd quarter worth $145,000. Atria Investments LLC acquired a new position in Berry Global Group during the 2nd quarter worth $212,000. Finally, Sawtooth Solutions LLC acquired a new position in Berry Global Group during the 3rd quarter worth $229,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of Berry Global Group stock traded up $0.74 on Tuesday, hitting $42.39. 12,699 shares of the company’s stock traded hands, compared to its average volume of 1,308,086. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.19 and a current ratio of 2.01. Berry Global Group Inc has a one year low of $40.50 and a one year high of $61.71. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.55 and a beta of 1.12.

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

Several analysts have commented on BERY shares. KeyCorp reiterated a “hold” rating on shares of Berry Global Group in a research report on Friday, August 3rd. ValuEngine cut shares of Berry Global Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. 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. Finally, Cfra reiterated a “buy” rating and set a $57.00 target price on shares of Berry Global Group in a research report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. Berry Global Group presently has an average rating of “Buy” and an average price target 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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