Commonwealth Bank of Australia Cuts Stake in Berry Global Group Inc (BERY)
Commonwealth Bank of Australia lessened its stake in shares of Berry Global Group Inc (NYSE:BERY) by 5.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,000 shares of the industrial products company’s stock after selling 800 shares during the quarter. Commonwealth Bank of Australia’s holdings in Berry Global Group were worth $665,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. First Trust Advisors LP grew its holdings in shares of Berry Global Group by 35.5% in the 3rd quarter. First Trust Advisors LP now owns 126,486 shares of the industrial products company’s stock worth $6,121,000 after acquiring an additional 33,108 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Berry Global Group by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 90,865 shares of the industrial products company’s stock worth $4,397,000 after acquiring an additional 8,218 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Berry Global Group in the 3rd quarter worth approximately $221,000. MML Investors Services LLC grew its holdings in shares of Berry Global Group by 93.1% in the 3rd quarter. MML Investors Services LLC now owns 12,763 shares of the industrial products company’s stock worth $618,000 after acquiring an additional 6,154 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its holdings in shares of Berry Global Group by 18,369.2% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 4,802 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 4,776 shares during the period. Institutional investors and hedge funds own 96.33% of the company’s stock.
In other news, EVP Jason K. Greene sold 7,455 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $52.63, for a total transaction of $392,356.65. Following the sale, the executive vice president now owns 7,705 shares in the company, valued at $405,514.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jason K. Greene sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $50.05, for a total value of $500,500.00. Following the sale, the executive vice president now owns 750 shares in the company, valued at approximately $37,537.50. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $1,576,469 in the last 90 days. Insiders own 1.60% of the company’s stock.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Friday, February 1st. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. Berry Global Group had a return on equity of 33.85% and a net margin of 5.22%. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that Berry Global Group Inc will post 3.85 EPS for the current fiscal year.
BERY has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on Berry Global Group in a report on Wednesday, January 16th. They set an “equal weight” rating and a $53.00 target price on the stock. Citigroup increased their target price on Berry Global Group from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, January 7th. BMO Capital Markets increased their target price on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, March 11th. ValuEngine upgraded Berry Global Group from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Finally, TheStreet upgraded Berry Global Group from a “c+” rating to a “b” rating in a report on Monday, November 19th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $62.56.
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About Berry Global Group
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.
Further Reading: Beta
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