PNC Financial Services Group Inc. lowered its stake in shares of Berry Global Group Inc (NYSE:BERY) by 89.7% in the second quarter, HoldingsChannel.com reports. The firm owned 183,129 shares of the industrial products company’s stock after selling 1,602,762 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Berry Global Group were worth $8,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC raised its stake in Berry Global Group by 100.0% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 3,202 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 1,601 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Berry Global Group by 154.7% during the 1st quarter. Meeder Asset Management Inc. now owns 3,504 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 2,128 shares in the last quarter. Atria Investments LLC bought a new stake in Berry Global Group during the 2nd quarter valued at $212,000. Koch Industries Inc. bought a new stake in Berry Global Group during the 1st quarter valued at $233,000. Finally, IBM Retirement Fund bought a new stake in Berry Global Group during the 1st quarter valued at $247,000. Institutional investors and hedge funds own 94.18% of the company’s stock.

BERY opened at $47.98 on Friday. Berry Global Group Inc has a one year low of $45.24 and a one year high of $61.71. The company has a debt-to-equity ratio of 4.41, a quick ratio of 1.19 and a current ratio of 2.01. The firm has a market capitalization of $6.36 billion, a PE ratio of 14.58, a PEG ratio of 0.72 and a beta of 1.05.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings data on Friday, August 3rd. The industrial products company reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.09). Berry Global Group had a return on equity of 35.88% and a net margin of 6.15%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the prior year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. research analysts forecast that Berry Global Group Inc will post 3.36 EPS for the current year.

Several analysts have weighed in on the company. Zacks Investment Research raised Berry Global Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. ValuEngine downgraded Berry Global Group from a “sell” rating to a “strong sell” rating in a research note on Friday, June 1st. Cfra reaffirmed a “buy” rating and set a $57.00 target price on shares of Berry Global Group in a research note on Thursday. KeyCorp reaffirmed a “hold” rating on shares of Berry Global Group in a research note on Friday, August 3rd. Finally, Jefferies Financial Group initiated coverage on Berry Global Group in a research note on Friday, May 18th. They issued a “buy” rating and a $67.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.75.

Berry Global Group Profile

Berry Global Group, Inc manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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

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