Berry Global Group Inc (BERY) Shares Bought by Anchor Bolt Capital LP
Anchor Bolt Capital LP grew its stake in Berry Global Group Inc (NYSE:BERY) by 124.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,240,092 shares of the industrial products company’s stock after acquiring an additional 1,244,171 shares during the quarter. Berry Global Group comprises approximately 7.5% of Anchor Bolt Capital LP’s portfolio, making the stock its 2nd biggest holding. Anchor Bolt Capital LP owned approximately 1.72% of Berry Global Group worth $106,472,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the company. Canyon Capital Advisors LLC lifted its position in Berry Global Group by 9.6% during the third quarter. Canyon Capital Advisors LLC now owns 8,670,022 shares of the industrial products company’s stock worth $419,542,000 after buying an additional 759,742 shares during the period. Marshall Wace LLP lifted its position in Berry Global Group by 130.4% during the third quarter. Marshall Wace LLP now owns 633,510 shares of the industrial products company’s stock worth $30,656,000 after buying an additional 358,588 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Berry Global Group by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,145,573 shares of the industrial products company’s stock worth $197,038,000 after buying an additional 328,906 shares during the period. Dimensional Fund Advisors LP lifted its position in Berry Global Group by 43.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,072,644 shares of the industrial products company’s stock worth $50,981,000 after buying an additional 324,037 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in Berry Global Group by 27.0% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,500,561 shares of the industrial products company’s stock worth $71,321,000 after buying an additional 318,639 shares during the period. Institutional investors and hedge funds own 96.33% of the company’s stock.
Berry Global Group stock opened at $55.06 on Friday. The stock has a market capitalization of $7.24 billion, a PE ratio of 16.34, a PEG ratio of 1.43 and a beta of 1.01. The company has a current ratio of 1.87, a quick ratio of 1.06 and a debt-to-equity ratio of 3.92. Berry Global Group Inc has a 12 month low of $40.50 and a 12 month high of $57.00.
In other news, EVP Jason K. Greene sold 10,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the executive vice president now owns 10,250 shares in the company, valued at $563,750. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jason K. Greene sold 2,545 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $52.50, for a total value of $133,612.50. Following the completion of the sale, the executive vice president now owns 2,595 shares of the company’s stock, valued at approximately $136,237.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,000 shares of company stock worth $1,576,469. Company insiders own 1.60% of the company’s stock.
Several equities analysts recently weighed in on the company. TheStreet upgraded Berry Global Group from a “c+” rating to a “b” rating in a research report on Monday, November 19th. Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating in a research report on Monday, November 19th. ValuEngine upgraded Berry Global Group from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Morgan Stanley assumed coverage on Berry Global Group in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 price objective on the stock. Finally, Citigroup raised their price objective on Berry Global Group from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 16th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $62.56.
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Berry Global Group Company 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.
Further Reading: Return On Assets
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