State Board of Administration of Florida Retirement System Decreases Position in Berry Global Group Inc (NYSE:BERY)

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State Board of Administration of Florida Retirement System trimmed its position in shares of Berry Global Group Inc (NYSE:BERY) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,438 shares of the industrial products company’s stock after selling 1,930 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.11% of Berry Global Group worth $7,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its holdings in Berry Global Group by 195.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 39,698 shares of the industrial products company’s stock worth $2,139,000 after buying an additional 26,244 shares during the last quarter. Private Capital Group LLC lifted its holdings in shares of 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 during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Berry Global Group by 154.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,626 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 30,104 shares during the last quarter. World Asset Management Inc bought a new stake in shares of Berry Global Group in the 1st quarter worth approximately $252,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Berry Global Group by 21.6% in the 1st quarter. SG Americas Securities LLC now owns 2,774 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.

Shares of BERY stock traded down $0.30 during mid-day trading on Wednesday, hitting $38.32. 9,499 shares of the stock traded hands, compared to its average volume of 2,127,790. Berry Global Group Inc has a twelve month low of $38.60 and a twelve month high of $59.16. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The company’s 50-day simple moving average is $46.60 and its 200-day simple moving average is $51.18. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.14 and a current ratio of 1.88.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.10). The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.03 billion. Berry Global Group had a net margin of 3.89% and a return on equity of 30.65%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. Analysts forecast that Berry Global Group Inc will post 3.47 earnings per share for the current year.

Several analysts recently issued reports on BERY shares. ValuEngine downgraded Berry Global Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Zacks Investment Research upgraded Berry Global Group from a “sell” rating to a “hold” rating and set a $57.00 target price on the stock in a research report on Monday, July 8th. TheStreet cut Berry Global Group from a “b” rating to a “c+” rating in a research report on Tuesday, July 30th. Wells Fargo & Co started coverage on Berry Global Group in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Bank of America cut Berry Global Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $60.38.

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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Institutional Ownership by Quarter for Berry Global Group (NYSE:BERY)

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