Verition Fund Management LLC Purchases Shares of 11,319 Berry Global Group, Inc. (NYSE:BERY)

Verition Fund Management LLC purchased a new stake in Berry Global Group, Inc. (NYSE:BERYGet Rating) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 11,319 shares of the industrial products company’s stock, valued at approximately $656,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BERY. Turtle Creek Asset Management Inc. increased its position in shares of Berry Global Group by 6.7% during the first quarter. Turtle Creek Asset Management Inc. now owns 6,608,110 shares of the industrial products company’s stock worth $383,006,000 after buying an additional 415,879 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Berry Global Group by 30.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,550,727 shares of the industrial products company’s stock worth $263,760,000 after buying an additional 1,053,476 shares during the period. Canyon Capital Advisors LLC increased its position in shares of Berry Global Group by 15.2% during the first quarter. Canyon Capital Advisors LLC now owns 2,840,398 shares of the industrial products company’s stock worth $164,629,000 after buying an additional 375,095 shares during the period. Lyrical Asset Management LP increased its position in shares of Berry Global Group by 3.7% during the first quarter. Lyrical Asset Management LP now owns 2,473,992 shares of the industrial products company’s stock worth $143,393,000 after buying an additional 88,072 shares during the period. Finally, State Street Corp increased its position in shares of Berry Global Group by 5.3% during the first quarter. State Street Corp now owns 2,146,344 shares of the industrial products company’s stock worth $124,402,000 after buying an additional 107,657 shares during the period. 89.88% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Stock Down 3.3 %

Berry Global Group stock opened at $47.74 on Friday. Berry Global Group, Inc. has a 1-year low of $47.73 and a 1-year high of $74.73. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.69 and a beta of 1.19. The firm’s fifty day moving average price is $55.83 and its two-hundred day moving average price is $56.33. The company has a current ratio of 1.79, a quick ratio of 1.04 and a debt-to-equity ratio of 3.05.

Berry Global Group (NYSE:BERYGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.09. Berry Global Group had a net margin of 5.16% and a return on equity of 29.95%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the firm earned $1.53 earnings per share. On average, equities research analysts predict that Berry Global Group, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Berry Global Group

In related news, CEO Tom Salmon sold 24,207 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $16.00, for a total transaction of $387,312.00. Following the transaction, the chief executive officer now directly owns 66,193 shares of the company’s stock, valued at $1,059,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Credit Suisse Group upgraded shares of Berry Global Group from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Wednesday, July 20th. Citigroup increased their target price on shares of Berry Global Group to $72.00 in a research note on Tuesday, August 9th. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. UBS Group cut their target price on shares of Berry Global Group from $78.00 to $73.00 in a research note on Wednesday, July 13th. Finally, Mizuho cut their target price on shares of Berry Global Group from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, August 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Berry Global Group has an average rating of “Moderate Buy” and an average target price of $73.56.

Berry Global Group Company Profile

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Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.

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

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