Bank of New York Mellon Corp trimmed its stake in shares of Berry Global Group Inc (NYSE:BERY) by 21.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 464,460 shares of the industrial products company’s stock after selling 125,692 shares during the quarter. Bank of New York Mellon Corp’s holdings in Berry Global Group were worth $21,337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atria Investments LLC purchased a new position in Berry Global Group during the second quarter valued at $212,000. Koch Industries Inc. purchased a new position in Berry Global Group during the first quarter valued at $233,000. IBM Retirement Fund purchased a new position in Berry Global Group during the first quarter valued at $247,000. Strategic Global Advisors LLC purchased a new position in Berry Global Group during the first quarter valued at $270,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Berry Global Group in the first quarter worth about $278,000. 93.92% of the stock is currently owned by institutional investors and hedge funds.

NYSE:BERY opened at $49.94 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 4.41. The stock has a market capitalization of $6.41 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.72 and a beta of 1.05. Berry Global Group Inc has a twelve month low of $45.24 and a twelve month high of $61.71.

Berry Global Group (NYSE:BERY) last posted its quarterly earnings results on Friday, August 3rd. The industrial products company reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the business posted $0.93 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. research analysts anticipate that Berry Global Group Inc will post 3.36 earnings per share for the current year.

Several equities analysts have recently weighed in on BERY shares. Cfra reissued a “buy” rating and issued a $57.00 price target on shares of Berry Global Group in a research note on Thursday, September 6th. KeyCorp reissued a “hold” rating on shares of Berry Global Group in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Berry Global Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Finally, ValuEngine raised shares of Berry Global Group from a “strong sell” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Berry Global Group currently has an average rating of “Buy” and an average price target of $65.75.

About Berry Global Group

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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