American Century Companies Inc. increased its holdings in shares of Berry Global Group, Inc. (NYSE:BERY) by 22.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,279 shares of the industrial products company’s stock after buying an additional 1,349 shares during the period. American Century Companies Inc.’s holdings in Berry Global Group were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BERY. Commonwealth Equity Services LLC acquired a new stake in Berry Global Group during the first quarter worth about $260,000. Natixis Advisors L.P. raised its stake in Berry Global Group by 4.0% during the first quarter. Natixis Advisors L.P. now owns 54,203 shares of the industrial products company’s stock worth $3,328,000 after acquiring an additional 2,089 shares during the period. M&T Bank Corp raised its stake in Berry Global Group by 1.9% during the first quarter. M&T Bank Corp now owns 8,363 shares of the industrial products company’s stock worth $514,000 after acquiring an additional 153 shares during the period. Standard Life Aberdeen plc raised its stake in Berry Global Group by 135.9% during the first quarter. Standard Life Aberdeen plc now owns 30,669 shares of the industrial products company’s stock worth $1,883,000 after acquiring an additional 17,667 shares during the period. Finally, Bank of Nova Scotia acquired a new stake in Berry Global Group during the first quarter worth about $6,253,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.
Several research analysts have commented on BERY shares. Truist started coverage on shares of Berry Global Group in a research report on Monday, September 13th. They issued a “positive” rating and a $85.00 target price for the company. Robert W. Baird restated a “buy” rating and issued a $83.00 target price on shares of Berry Global Group in a research report on Friday, August 6th. Finally, Truist Securities started coverage on shares of Berry Global Group in a research report on Tuesday, September 14th. They issued a “buy” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.50.
Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Wednesday, August 4th. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.03. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Berry Global Group had a net margin of 5.31% and a return on equity of 31.45%. The business’s revenue was up 26.3% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. On average, analysts forecast that Berry Global Group, Inc. will post 5.78 earnings per share for the current fiscal year.
About Berry Global Group
Berry Global Group, Inc engages in the provision of value added engineered materials, nonwoven specialty materials and consumer packaging with customized solutions. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials and Health, Hygiene & Specialties.
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