First Trust Advisors LP lessened its stake in Berry Global Group Inc (NYSE:BERY) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,800 shares of the industrial products company’s stock after selling 1,516 shares during the quarter. First Trust Advisors LP owned about 0.10% of Berry Global Group worth $6,885,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BERY. Barings LLC purchased a new position in shares of Berry Global Group during the first quarter worth $388,000. Penserra Capital Management LLC purchased a new position in shares of Berry Global Group during the first quarter worth $4,826,000. Great West Life Assurance Co. Can boosted its position in shares of Berry Global Group by 15.8% during the first quarter. Great West Life Assurance Co. Can now owns 18,446 shares of the industrial products company’s stock worth $991,000 after buying an additional 2,522 shares during the period. Commerce Bank purchased a new position in Berry Global Group in the first quarter valued at $209,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Berry Global Group in the first quarter valued at $685,000. 95.49% of the stock is owned by hedge funds and other institutional investors.
Shares of BERY traded up $1.22 during midday trading on Monday, reaching $53.81. 1,507,900 shares of the stock were exchanged, compared to its average volume of 1,511,908. The stock has a market cap of $6.93 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. Berry Global Group Inc has a twelve month low of $40.50 and a twelve month high of $59.16. The firm has a 50-day simple moving average of $49.44. The company has a debt-to-equity ratio of 3.72, a current ratio of 2.01 and a quick ratio of 1.19.
In related news, EVP Jason K. Greene sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $57.50, for a total value of $575,000.00. Following the transaction, the executive vice president now owns 10,250 shares in the company, valued at approximately $589,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.
A number of analysts have issued reports on BERY shares. BMO Capital Markets lifted their price target on Berry Global Group from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Zacks Investment Research downgraded Berry Global Group from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Bank of America started coverage on Berry Global Group in a report on Thursday, May 23rd. They set a “buy” rating for the company. Finally, Morgan Stanley set a $60.00 price target on Berry Global Group and gave the stock a “hold” rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.40.
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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