Mirae Asset Global Investments Co. Ltd. Buys New Position in Berry Global Group Inc (BERY)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Berry Global Group Inc (NYSE:BERY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 307,456 shares of the industrial products company’s stock, valued at approximately $14,933,000. Mirae Asset Global Investments Co. Ltd. owned 0.24% of Berry Global Group at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of Berry Global Group by 616.4% in the third quarter. Wells Fargo & Company MN now owns 3,164,361 shares of the industrial products company’s stock worth $138,759,000 after buying an additional 2,722,667 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Berry Global Group by 17,005.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,716,388 shares of the industrial products company’s stock worth $75,263,000 after buying an additional 1,706,354 shares during the period. Norges Bank acquired a new stake in shares of Berry Global Group during the fourth quarter worth approximately $62,465,000. Bank of Montreal Can boosted its stake in shares of Berry Global Group by 32.0% in the first quarter. Bank of Montreal Can now owns 4,496,662 shares of the industrial products company’s stock worth $218,403,000 after buying an additional 1,090,024 shares during the period. Finally, FMR LLC boosted its stake in shares of Berry Global Group by 19.7% in the fourth quarter. FMR LLC now owns 3,728,628 shares of the industrial products company’s stock worth $181,696,000 after buying an additional 612,600 shares during the period. Institutional investors and hedge funds own 96.56% of the company’s stock.

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

Shares of Berry Global Group Inc (NYSE:BERY) traded down 0.39% during midday trading on Friday, hitting $56.09. 1,309,204 shares of the company were exchanged. The company has a 50-day moving average price of $51.58 and a 200-day moving average price of $49.79. Berry Global Group Inc has a 52-week low of $34.98 and a 52-week high of $56.94. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 24.33 and a beta of 1.12.

Berry Global Group (NYSE:BERY) last announced its earnings results on Wednesday, May 3rd. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. Berry Global Group had a net margin of 4.44% and a return on equity of 192.84%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Berry Global Group Inc will post $2.88 EPS for the current year.

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BERY has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Berry Global Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Citigroup Inc reiterated a “buy” rating on shares of Berry Global Group in a research report on Tuesday, March 7th. Royal Bank of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of Berry Global Group in a report on Tuesday, April 11th. Deutsche Bank AG upped their price objective on shares of Berry Global Group from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Finally, Jefferies Group LLC upped their price objective on shares of Berry Global Group from $59.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.00.

In other news, Director Carl J. Rickertsen sold 29,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $56.35, for a total transaction of $1,662,325.00. Following the completion of the transaction, the director now owns 15,119 shares of the company’s stock, valued at approximately $851,955.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Curt Begle sold 18,000 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $55.23, for a total transaction of $994,140.00. Following the transaction, the president now directly owns 31,200 shares of the company’s stock, valued at approximately $1,723,176. The disclosure for this sale can be found here. Insiders own 3.11% of the company’s stock.

Berry Global Group Company Profile

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. The Company offers products, such as closures, prescription vials, specialty films, adhesives, nonwovens, drink cups, containers and bottles.

12 Month Chart for NYSE:BERY

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