Retirement Systems of Alabama continued to hold its stake in shares of Berry Plastics Group Inc. (NYSE:BERY) during the second quarter, Holdings Channel reports. The firm owned 95,500 shares of the company’s stock at the end of the second quarter. Retirement Systems of Alabama’s holdings in Berry Plastics Group were worth $3,710,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of BERY. Bayesian Capital Management LP bought a new stake in shares of Berry Plastics Group during the first quarter worth about $271,000. Nuveen Asset Management LLC boosted its position in shares of Berry Plastics Group by 50.2% in the first quarter. Nuveen Asset Management LLC now owns 102,876 shares of the company’s stock worth $3,719,000 after buying an additional 34,405 shares during the last quarter. HBK Investments L P boosted its position in shares of Berry Plastics Group by 7.3% in the first quarter. HBK Investments L P now owns 140,618 shares of the company’s stock worth $5,083,000 after buying an additional 9,601 shares during the last quarter. Hancock Holding Co. boosted its position in shares of Berry Plastics Group by 11.7% in the first quarter. Hancock Holding Co. now owns 24,105 shares of the company’s stock worth $871,000 after buying an additional 2,534 shares during the last quarter. Finally, Newbrook Capital Advisors LP purchased a new position in shares of Berry Plastics Group during the first quarter worth approximately $76,125,000. 96.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Berry Plastics Group Inc. (NYSE:BERY) traded up 0.22% during mid-day trading on Monday, hitting $44.60. The stock had a trading volume of 908,130 shares. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 26.67 and a beta of 1.08. The stock’s 50-day moving average is $44.51 and its 200 day moving average is $40.28. Berry Plastics Group Inc. has a 1-year low of $27.79 and a 1-year high of $46.26.
Berry Plastics Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.21. The business earned $1.65 billion during the quarter, compared to the consensus estimate of $1.68 billion. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. Equities research analysts predict that Berry Plastics Group Inc. will post $2.34 EPS for the current fiscal year.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Berry Plastics Group from a “hold” rating to a “sell” rating in a research note on Monday. Credit Suisse Group AG raised their target price on Berry Plastics Group from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, August 12th. Royal Bank Of Canada raised their target price on Berry Plastics Group from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. RBC Capital Markets reaffirmed an “outperform” rating and set a $47.00 target price (up from $44.00) on shares of Berry Plastics Group in a research report on Saturday, August 13th. Finally, Jefferies Group began coverage on Berry Plastics Group in a research report on Thursday. They set a “buy” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $48.64.
In other Berry Plastics Group news, President Curt Begle sold 16,143 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $42.07, for a total value of $679,136.01. Following the completion of the sale, the president now directly owns 45,263 shares of the company’s stock, valued at $1,904,214.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by company insiders.
Berry Plastics Group Company Profile
Berry Plastics Group, Inc is a provider of plastic consumer packaging and engineered materials. The Company offers a range of products, including specialty closures, prescription vials, specialty films, adhesives, corrosion protection materials, as well as drink cups, thin-wall containers and bottles.
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