Westpac Banking Corp Acquires 3,358 Shares of Berry Plastics Group Inc. (BERY)
Westpac Banking Corp raised its stake in Berry Plastics Group Inc. (NYSE:BERY) by 95.4% during the second quarter, Holdings Channel reports. The fund owned 6,878 shares of the company’s stock after buying an additional 3,358 shares during the period. Westpac Banking Corp’s holdings in Berry Plastics Group were worth $199,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in shares of Berry Plastics Group during the second quarter worth approximately $151,000. Acrospire Investment Management LLC purchased a new stake in shares of Berry Plastics Group during the first quarter worth approximately $159,000. Bayesian Capital Management LP purchased a new stake in shares of Berry Plastics Group during the first quarter worth approximately $271,000. Foundry Partners LLC boosted its stake in shares of Berry Plastics Group by 10.2% in the second quarter. Foundry Partners LLC now owns 7,800 shares of the company’s stock worth $303,000 after buying an additional 725 shares in the last quarter. Finally, Mount Lucas Management LP boosted its stake in shares of Berry Plastics Group by 10.3% in the first quarter. Mount Lucas Management LP now owns 8,464 shares of the company’s stock worth $306,000 after buying an additional 791 shares in the last quarter. Institutional investors and hedge funds own 96.50% of the company’s stock.
Shares of Berry Plastics Group Inc. (NYSE:BERY) opened at 43.21 on Monday. The firm’s 50-day moving average is $44.54 and its 200-day moving average is $39.88. Berry Plastics Group Inc. has a 52 week low of $27.79 and a 52 week high of $46.26. The firm has a market capitalization of $5.25 billion, a P/E ratio of 25.84 and a beta of 1.08.
Berry Plastics Group (NYSE:BERY) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.21. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.68 billion. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. Equities analysts anticipate that Berry Plastics Group Inc. will post $2.34 EPS for the current year.
A number of brokerages have commented on BERY. SunTrust Banks Inc. began coverage on shares of Berry Plastics Group in a research note on Tuesday, July 12th. They issued a “neutral” rating and a $42.00 price target for the company. BMO Capital Markets increased their price objective on shares of Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, August 26th. Credit Suisse Group AG increased their price objective on shares of Berry Plastics Group from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, August 12th. Barclays PLC assumed coverage on shares of Berry Plastics Group in a research report on Wednesday, June 15th. They issued an “overweight” rating and a $45.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Berry Plastics Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.38.
In other Berry Plastics Group news, President Curt Begle sold 16,143 shares of Berry Plastics Group stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $42.07, for a total transaction of $679,136.01. Following the transaction, the president now directly owns 45,263 shares of the company’s stock, valued at approximately $1,904,214.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.
Berry Plastics Group Company Profile
Berry Plastics Group, Inc is a provider of plastic consumer packaging and engineered materials. The Company offers a range of products, including specialty closures, prescription vials, specialty films, adhesives, corrosion protection materials, as well as drink cups, thin-wall containers and bottles.
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