GSA Capital Partners LLP Sells 13,619 Shares of Berry Global Group Inc (BERY)

GSA Capital Partners LLP cut its holdings in Berry Global Group Inc (NYSE:BERY) by 68.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,364 shares of the industrial products company’s stock after selling 13,619 shares during the quarter. GSA Capital Partners LLP’s holdings in Berry Global Group were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BERY. Scotia Capital Inc. acquired a new stake in shares of Berry Global Group during the 4th quarter valued at approximately $5,114,000. Bank of New York Mellon Corp increased its holdings in shares of Berry Global Group by 16.1% during the fourth quarter. Bank of New York Mellon Corp now owns 522,488 shares of the industrial products company’s stock valued at $24,834,000 after purchasing an additional 72,317 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Berry Global Group by 8.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,145,573 shares of the industrial products company’s stock valued at $197,038,000 after buying an additional 328,906 shares in the last quarter. BlackRock Inc. boosted its stake in Berry Global Group by 2.5% during the fourth quarter. BlackRock Inc. now owns 5,606,566 shares of the industrial products company’s stock valued at $266,478,000 after buying an additional 135,189 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Berry Global Group in the 4th quarter valued at $259,000. Institutional investors and hedge funds own 95.86% of the company’s stock.

NYSE:BERY opened at $54.52 on Wednesday. The company has a debt-to-equity ratio of 3.92, a current ratio of 1.87 and a quick ratio of 1.06. Berry Global Group Inc has a 1-year low of $40.50 and a 1-year high of $57.00. The firm has a market capitalization of $7.24 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.44 and a beta of 1.01.

Berry Global Group (NYSE:BERY) last released its quarterly earnings results on Friday, February 1st. The industrial products company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Berry Global Group had a return on equity of 33.85% and a net margin of 5.22%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company posted $0.67 EPS. Berry Global Group’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts expect that Berry Global Group Inc will post 3.85 EPS for the current fiscal year.

In other Berry Global Group news, EVP Jason K. Greene sold 2,545 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $52.50, for a total transaction of $133,612.50. Following the completion of the sale, the executive vice president now directly owns 2,595 shares in the company, valued at approximately $136,237.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason K. Greene sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the sale, the executive vice president now owns 10,250 shares of the company’s stock, valued at $563,750. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $1,576,469 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

BERY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Berry Global Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Tuesday, January 15th. Citigroup increased their price target on Berry Global Group from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 7th. Morgan Stanley initiated coverage on Berry Global Group in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $53.00 price target for the company. ValuEngine upgraded Berry Global Group from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. Finally, BMO Capital Markets increased their price target on Berry Global Group from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $62.56.

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About Berry Global Group

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment 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, flashing and seaming tapes, 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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