Today: The Vanguard Group Inc. Reduces Stake in Berry Plastics Group Inc. (BERY)

The Vanguard Group Inc. Reduces Stake in Berry Plastics Group Inc. (BERY)

Vanguard Group Inc. lowered its position in Berry Plastics Group Inc. (NYSE:BERY) by 7.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,558,810 shares of the company’s stock after selling 674,188 shares during the period. Vanguard Group Inc. owned approximately 7.08% of Berry Plastics Group worth $332,510,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Berry Plastics Group during the fourth quarter worth $37,812,000. Nisa Investment Advisors L.L.C. acquired a new stake in shares of Berry Plastics Group during the first quarter worth $315,000. Ngam Advisors L.P. acquired a new stake in shares of Berry Plastics Group during the first quarter worth $1,446,000. Prudential Financial Inc. boosted its stake in shares of Berry Plastics Group by 120.7% in the first quarter. Prudential Financial Inc. now owns 18,537 shares of the company’s stock worth $670,000 after buying an additional 10,137 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Berry Plastics Group by 519.2% in the first quarter. JPMorgan Chase & Co. now owns 394,297 shares of the company’s stock worth $14,254,000 after buying an additional 330,615 shares during the period. 96.50% of the stock is owned by hedge funds and other institutional investors.

Berry Plastics Group Inc. (NYSE:BERY) opened at 43.21 on Friday. The firm has a 50-day moving average price of $44.54 and a 200-day moving average price of $39.88. The firm has a market capitalization of $5.25 billion, a P/E ratio of 25.84 and a beta of 1.08. Berry Plastics Group Inc. has a 52 week low of $27.79 and a 52 week high of $46.26.

Berry Plastics Group (NYSE:BERY) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.21. The firm earned $1.65 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company posted $0.51 earnings per share. Equities analysts forecast that Berry Plastics Group Inc. will post $2.34 EPS for the current year.

BERY has been the subject of a number of research reports. Barclays PLC initiated coverage on shares of Berry Plastics Group in a research report on Wednesday, June 15th. They set an “overweight” rating and a $45.00 price target for the company. Deutsche Bank AG reissued a “buy” rating on shares of Berry Plastics Group in a research report on Wednesday, June 15th. SunTrust Banks Inc. began coverage on shares of Berry Plastics Group in a research report on Tuesday, July 12th. They issued a “neutral” rating and a $42.00 price objective for the company. Zacks Investment Research cut shares of Berry Plastics Group from a “buy” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Citigroup Inc. upped their price objective on shares of Berry Plastics Group from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $48.38.

In related news, President Curt Begle sold 4,734 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $44.00, for a total value of $208,296.00. Following the completion of the sale, the president now directly owns 33,854 shares in the company, valued at $1,489,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

About Berry Plastics Group

Related posts

Leave a Comment