ClariVest Asset Management LLC Boosts Stake in Berry Plastics Group Inc. (BERY)
ClariVest Asset Management LLC raised its position in Berry Plastics Group Inc. (NYSE:BERY) by 15.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,517 shares of the company’s stock after buying an additional 5,200 shares during the period. ClariVest Asset Management LLC’s holdings in Berry Plastics Group were worth $1,497,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of Berry Plastics Group by 33.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,169,686 shares of the company’s stock worth $114,584,000 after buying an additional 789,332 shares in the last quarter. State Street Corp boosted its stake in shares of Berry Plastics Group by 1.0% in the first quarter. State Street Corp now owns 2,108,862 shares of the company’s stock worth $76,241,000 after buying an additional 19,904 shares in the last quarter. Newbrook Capital Advisors LP purchased a new stake in shares of Berry Plastics Group during the first quarter worth about $76,125,000. Skyline Asset Management LP boosted its stake in shares of Berry Plastics Group by 4.0% in the first quarter. Skyline Asset Management LP now owns 862,700 shares of the company’s stock worth $31,187,000 after buying an additional 33,400 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Berry Plastics Group by 85.5% in the first quarter. Royal Bank of Canada now owns 712,343 shares of the company’s stock worth $25,751,000 after buying an additional 328,262 shares in the last quarter. Institutional investors and hedge funds own 96.50% of the company’s stock.
Berry Plastics Group Inc. (NYSE:BERY) traded down 0.27% during mid-day trading on Thursday, reaching $44.00. The company had a trading volume of 1,536,263 shares. The firm has a 50-day moving average price of $44.52 and a 200 day moving average price of $40.07. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 26.32 and a beta of 1.08. Berry Plastics Group Inc. has a 12-month low of $27.79 and a 12-month high of $46.26.
Berry Plastics Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.21. The company earned $1.65 billion during 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%. Berry Plastics Group’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Analysts expect that Berry Plastics Group Inc. will post $2.34 EPS for the current year.
A number of equities research analysts have recently issued reports on BERY shares. Citigroup Inc. boosted their price objective on Berry Plastics Group from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, July 19th. Deutsche Bank AG restated a “buy” rating on shares of Berry Plastics Group in a report on Wednesday, June 15th. Jefferies Group assumed coverage on Berry Plastics Group in a research note on Thursday. They issued a “buy” rating and a $52.00 price target for the company. Zacks Investment Research upgraded Berry Plastics Group from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Monday, August 8th. Finally, BMO Capital Markets boosted their price target on Berry Plastics Group from $37.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, August 26th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Berry Plastics Group presently has an average rating of “Buy” and a consensus price target of $48.64.
In other Berry Plastics Group news, President Curt Begle sold 16,143 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $42.07, for a total value of $679,136.01. Following the completion of the transaction, the president now directly owns 45,263 shares of the company’s stock, valued at approximately $1,904,214.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.
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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