SignalPoint Asset Management LLC boosted its stake in Berry Plastics Group Inc. (NYSE:BERY) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 15,432 shares of the company’s stock after buying an additional 991 shares during the period. SignalPoint Asset Management LLC’s holdings in Berry Plastics Group were worth $600,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Berry Plastics Group during the fourth quarter valued at approximately $37,812,000. Nisa Investment Advisors L.L.C. purchased a new stake in Berry Plastics Group during the first quarter valued at approximately $315,000. Ngam Advisors L.P. purchased a new stake in Berry Plastics Group during the first quarter valued at approximately $1,446,000. Prudential Financial Inc. raised its stake in Berry Plastics Group by 120.7% in the first quarter. Prudential Financial Inc. now owns 18,537 shares of the company’s stock valued at $670,000 after buying an additional 10,137 shares during the period. Finally, Algert Global LLC purchased a new stake in Berry Plastics Group during the first quarter valued at approximately $918,000. Institutional investors own 96.50% of the company’s stock.
Berry Plastics Group Inc. (NYSE:BERY) traded down 1.04% on Tuesday, reaching $42.81. The company’s stock had a trading volume of 1,311,602 shares. Berry Plastics Group Inc. has a 52 week low of $27.79 and a 52 week high of $46.26. The stock has a market capitalization of $5.21 billion, a P/E ratio of 25.60 and a beta of 1.08. The firm has a 50 day moving average price of $44.53 and a 200 day moving average price of $39.71.
Berry Plastics Group (NYSE:BERY) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.21. Berry Plastics Group had a net margin of 3.41% and a return on equity of 1,464.14%. The company earned $1.65 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities analysts anticipate that Berry Plastics Group Inc. will post $2.34 EPS for the current year.
BERY has been the subject of several research reports. Barclays PLC started coverage on Berry Plastics Group in a research note on Wednesday, June 15th. They set an “overweight” rating and a $45.00 price objective for the company. Deutsche Bank AG restated a “buy” rating on shares of Berry Plastics Group in a research report on Wednesday, June 15th. SunTrust Banks Inc. started coverage on Berry Plastics Group in a research report on Tuesday, July 12th. They issued a “neutral” rating and a $42.00 price target for the company. Zacks Investment Research lowered 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 target on 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.38.
In other news, President Curt Begle sold 16,143 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $42.07, for a total transaction of $679,136.01. Following the completion of the transaction, the president now directly owns 45,263 shares of the company’s stock, valued at approximately $1,904,214.41. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.
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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