MML Investors Services LLC Sells 11,791 Shares of Berry Global Group Inc (NYSE:BERY)

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MML Investors Services LLC decreased its position in shares of Berry Global Group Inc (NYSE:BERY) by 45.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,225 shares of the industrial products company’s stock after selling 11,791 shares during the quarter. MML Investors Services LLC’s holdings in Berry Global Group were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BERY. SG Americas Securities LLC lifted its position in Berry Global Group by 21.6% during the first quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 492 shares during the period. Janus Henderson Group PLC bought a new stake in Berry Global Group during the first quarter worth about $687,000. Comerica Bank lifted its position in Berry Global Group by 15.8% during the first quarter. Comerica Bank now owns 7,053 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 964 shares during the period. Moors & Cabot Inc. bought a new stake in Berry Global Group during the first quarter worth about $254,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Berry Global Group by 252.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 51,608 shares of the industrial products company’s stock worth $2,780,000 after purchasing an additional 36,982 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Shares of BERY stock traded down $0.43 on Thursday, reaching $38.79. The company had a trading volume of 39,798 shares, compared to its average volume of 887,357. The stock has a market capitalization of $5.18 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.00 and a beta of 1.24. The company has a quick ratio of 1.14, a current ratio of 1.88 and a debt-to-equity ratio of 3.52. Berry Global Group Inc has a one year low of $37.94 and a one year high of $59.16. The business’s 50-day moving average is $40.51 and its 200 day moving average is $49.88.

Berry Global Group (NYSE:BERY) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.03 billion. Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. On average, sell-side analysts forecast that Berry Global Group Inc will post 3.41 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Goldman Sachs Group reaffirmed a “buy” rating and set a $52.00 price objective on shares of Berry Global Group in a research report on Thursday, August 22nd. ValuEngine cut shares of Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Bank of America cut shares of Berry Global Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Wells Fargo & Co began coverage on shares of Berry Global Group in a research report on Wednesday, July 24th. They set an “outperform” rating and a $65.00 price objective for the company. Finally, TheStreet cut shares of Berry Global Group from a “b” rating to a “c+” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Berry Global Group has a consensus rating of “Hold” and a consensus price target of $60.86.

Berry Global Group Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, 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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