New York State Teachers Retirement System lowered its stake in Berry Global Group Inc (NYSE:BERY) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the industrial products company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Berry Global Group were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Icon Wealth Partners LLC purchased a new position in Berry Global Group in the 1st quarter worth about $27,000. Mark Sheptoff Financial Planning LLC increased its stake in Berry Global Group by 66.7% in 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. Private Capital Group LLC increased its stake in Berry Global Group by 236.5% in the 1st quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 726 shares in the last quarter. First Interstate Bank increased its stake in Berry Global Group by 29.6% in the 1st quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 345 shares in the last quarter. Finally, First Hawaiian Bank increased its stake in Berry Global Group by 49.7% in the 1st quarter. First Hawaiian Bank now owns 2,522 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 837 shares in the last quarter. 95.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on BERY shares. Bank of America lowered Berry Global Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. started coverage on Berry Global Group in a research report on Tuesday, July 16th. They set an “overweight” rating and a $63.00 price objective for the company. Morgan Stanley set a $60.00 price objective on Berry Global Group and gave the stock a “hold” rating in a research report on Wednesday, April 17th. ValuEngine lowered Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 price objective for the company in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.57.
Berry Global Group (NYSE:BERY) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). Berry Global Group had a return on equity of 30.65% and a net margin of 3.89%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Berry Global Group Inc will post 3.5 EPS for the current fiscal year.
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.
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