DekaBank Deutsche Girozentrale Invests $181,000 in Berry Global Group Inc (NYSE:BERY) Stock
DekaBank Deutsche Girozentrale acquired a new position in Berry Global Group Inc (NYSE:BERY) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,796 shares of the industrial products company’s stock, valued at approximately $181,000.
A number of other institutional investors have also modified their holdings of BERY. Wells Fargo & Company MN increased its position in Berry Global Group by 56.8% during the 1st quarter. Wells Fargo & Company MN now owns 623,390 shares of the industrial products company’s stock worth $33,581,000 after purchasing an additional 225,913 shares in the last quarter. Financial Counselors Inc. acquired a new position in Berry Global Group during the 1st quarter worth approximately $307,000. Mark Sheptoff Financial Planning LLC increased its position in Berry Global Group by 66.7% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Berry Global Group during the 1st quarter worth approximately $27,000. Finally, Advisor Group Inc. increased its position in Berry Global Group by 140.1% during the 1st quarter. Advisor Group Inc. now owns 17,737 shares of the industrial products company’s stock worth $955,000 after purchasing an additional 10,350 shares in the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
In other Berry Global Group news, EVP Jason K. Greene sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $57.50, for a total transaction of $575,000.00. Following the sale, the executive vice president now directly owns 10,250 shares of the company’s stock, valued at approximately $589,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.
Berry Global Group (NYSE:BERY) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.14). Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that Berry Global Group Inc will post 3.54 EPS for the current fiscal year.
A number of equities analysts recently issued reports on BERY shares. Zacks Investment Research cut shares of Berry Global Group from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Morgan Stanley set a $60.00 price objective on shares of Berry Global Group and gave the stock a “hold” rating in a research report on Wednesday, April 17th. BMO Capital Markets upped their price objective on shares of Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Finally, Bank of America started coverage on shares of Berry Global Group in a report on Thursday, May 23rd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $60.40.
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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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