GAMMA Investing LLC Buys New Shares in Berry Global Group, Inc. (NYSE:BERY)

GAMMA Investing LLC purchased a new position in Berry Global Group, Inc. (NYSE:BERY) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 469 shares of the industrial products company’s stock, valued at approximately $31,000.

Several other hedge funds have also recently added to or reduced their stakes in BERY. Louisiana State Employees Retirement System acquired a new position in shares of Berry Global Group in the 4th quarter worth $2,237,000. Teachers Retirement System of The State of Kentucky increased its stake in Berry Global Group by 96.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 40,174 shares of the industrial products company’s stock worth $2,488,000 after purchasing an additional 19,674 shares in the last quarter. AQR Capital Management LLC increased its stake in Berry Global Group by 2.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,005,173 shares of the industrial products company’s stock worth $62,230,000 after purchasing an additional 22,137 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Berry Global Group by 67.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 97,700 shares of the industrial products company’s stock worth $6,049,000 after buying an additional 39,200 shares during the period. Finally, Invesco Ltd. lifted its stake in Berry Global Group by 60.1% during the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company’s stock valued at $38,471,000 after buying an additional 233,368 shares in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

Insider Activity

In related news, Director Peter T. Thomas bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $112,000. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Peter T. Thomas acquired 2,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, with a total value of $112,000.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $112,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan F. Foster purchased 1,000 shares of the stock in a transaction on Monday, February 12th. The stock was bought at an average price of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The disclosure for this purchase can be found here. 4.00% of the stock is owned by company insiders.

Berry Global Group Stock Performance

NYSE:BERY opened at $58.86 on Monday. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. Berry Global Group, Inc. has a 1 year low of $53.92 and a 1 year high of $69.93. The firm’s fifty day simple moving average is $58.57 and its 200 day simple moving average is $61.48. The firm has a market capitalization of $6.82 billion, a PE ratio of 12.66, a PEG ratio of 0.80 and a beta of 1.24.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. Berry Global Group’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. On average, sell-side analysts anticipate that Berry Global Group, Inc. will post 7.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BERY shares. TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Mizuho lowered their price target on Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Wolfe Research started coverage on Berry Global Group in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Barclays cut their price objective on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus price target of $72.00.

About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.