Emerald Mutual Fund Advisers Trust bought a new position in shares of Berry Plastics Group Inc. (NYSE:BERY) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 182,327 shares of the company’s stock, valued at approximately $7,083,000.
Other hedge funds have also added to or reduced their stakes in the company. Falcon Point Capital LLC raised its stake in Berry Plastics Group by 1.9% in the second quarter. Falcon Point Capital LLC now owns 294,216 shares of the company’s stock worth $11,430,000 after buying an additional 5,382 shares during the period. HBK Investments L P raised its stake in Berry Plastics Group by 7.3% in the first quarter. HBK Investments L P now owns 140,618 shares of the company’s stock worth $5,083,000 after buying an additional 9,601 shares during the period. Mount Lucas Management LP raised its stake in Berry Plastics Group by 10.3% in the first quarter. Mount Lucas Management LP now owns 8,464 shares of the company’s stock worth $306,000 after buying an additional 791 shares during the period. A.R.T. Advisors LLC raised its stake in Berry Plastics Group by 27.9% in the first quarter. A.R.T. Advisors LLC now owns 36,678 shares of the company’s stock worth $1,325,000 after buying an additional 8,000 shares during the period. Finally, Skyline Asset Management LP raised its stake in Berry Plastics Group by 4.0% in the first quarter. Skyline Asset Management LP now owns 862,700 shares of the company’s stock worth $31,187,000 after buying an additional 33,400 shares during the period. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Berry Plastics Group Inc. (NYSE:BERY) traded down 0.87% during trading on Friday, reaching $43.21. The company’s stock had a trading volume of 1,366,925 shares. Berry Plastics Group Inc. has a 52-week low of $27.79 and a 52-week high of $46.26. The company has a market cap of $5.25 billion, a PE ratio of 25.84 and a beta of 1.08. The firm’s 50-day moving average is $44.55 and its 200 day moving average is $39.82.
Berry Plastics Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.21. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.68 billion. Berry Plastics Group had a return on equity of 1,464.14% and a net margin of 3.41%. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. On average, equities research analysts predict that Berry Plastics Group Inc. will post $2.34 EPS for the current fiscal year.
BERY has been the topic of a number of research analyst reports. BMO Capital Markets raised their target price on Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, August 26th. JPMorgan Chase & Co. started coverage on Berry Plastics Group in a report on Tuesday, September 13th. They set an “overweight” rating and a $54.00 price objective on the stock. Deutsche Bank AG reissued a “buy” rating and set a $56.00 price objective (up previously from $52.00) on shares of Berry Plastics Group in a report on Monday, August 29th. Robert W. Baird lifted their price objective on Berry Plastics Group from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Finally, Zacks Investment Research lowered Berry Plastics Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.38.
In other news, President Curt Begle sold 16,143 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $42.07, for a total value of $679,136.01. Following the transaction, the president now owns 45,263 shares of the company’s stock, valued at $1,904,214.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.
Berry Plastics Group Company Profile
Berry Plastics Group, Inc is a provider of plastic consumer packaging and engineered materials. The Company offers a range of products, including specialty closures, prescription vials, specialty films, adhesives, corrosion protection materials, as well as drink cups, thin-wall containers and bottles.
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