Berry Global Group Inc (NYSE:BERY) has received a consensus recommendation of “Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $59.38.
BERY has been the topic of several recent research reports. ValuEngine cut Berry Global Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Citigroup dropped their price target on Berry Global Group from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Goldman Sachs Group restated a “buy” rating and issued a $52.00 price target on shares of Berry Global Group in a research report on Thursday, August 22nd. TheStreet cut Berry Global Group from a “b” rating to a “c+” rating in a research report on Tuesday, July 30th. Finally, Bank of America upgraded Berry Global Group from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, September 25th. They noted that the move was a valuation call.
A number of hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC acquired a new position in Berry Global Group during the 2nd quarter worth approximately $327,078,000. EdgePoint Investment Group Inc. acquired a new position in Berry Global Group during the 3rd quarter worth approximately $151,473,000. Eminence Capital LP increased its position in Berry Global Group by 11.6% during the 2nd quarter. Eminence Capital LP now owns 12,280,431 shares of the industrial products company’s stock worth $645,828,000 after purchasing an additional 1,274,346 shares during the period. Marshall Wace North America L.P. increased its position in Berry Global Group by 22.2% during the 2nd quarter. Marshall Wace North America L.P. now owns 4,301,974 shares of the industrial products company’s stock worth $226,241,000 after purchasing an additional 780,573 shares during the period. Finally, Southpoint Capital Advisors LP acquired a new position in Berry Global Group during the 2nd quarter worth approximately $36,813,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.
Berry Global Group Company Profile
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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