Zacks Investment Research Downgrades Berry Global Group (BERY) to Hold

Joanna Estrada
February 18, 2018

The institutional investor owned 7,508 shares of the industrial products company's stock after acquiring an additional 2,043 shares during the quarter.

Shares of Berry Global Group (NYSE:BERY) traded up $0.38 during trading hours on Friday, reaching $56.47. The stock's average target of $55.33 is -2.61% below today's ($56.81) share price. Berry Global Group, Inc. (NYSE:BERY) has risen 47.68% since February 17, 2017 and is uptrending. It has outperformed by 30.98% the S&P500. 2,150 are owned by Meeder Asset Management. Hgk Asset Management Inc bought 151,117 shares as the company's stock declined 3.45% while stock markets rallied. The Shell Asset Management Co holds 77,381 shares with $5.70M value, down from 85,106 last quarter. About 11.73 million shares traded. It has underperformed by 16.70% the S&P500.

Ksa Capital Management Llc, which manages about $287.50M and $19.44M US Long portfolio, upped its stake in Kohls Corp (Call) (NYSE:KSS) by 15,000 shares to 30,000 shares, valued at $1.37 million in 2017Q3, according to the filing.

Investors sentiment increased to 1.1 in Q3 2017. Its down 0.23, from 1.28 in 2017Q2. It improved, as 31 investors sold BERY shares while 105 reduced holdings.

Other hedge funds also recently added to or reduced their stakes in the company. 121.75 million shares or 1.68% more from 119.74 million shares in 2017Q2 were reported. Victory Mngmt invested in 0.04% or 322,350 shares. 239.50 million shares or 0.41% less from 240.48 million shares in 2017Q2 were reported.

Berry Global Group, Inc, formerly Berry Plastics Group, Inc, is a provider of value-added plastic consumer packaging, non-woven specialty materials and engineered materials. (NYSE:BERY). First Interstate Bancorp holds 0.02% or 1,400 shares in its portfolio. Meitav Dash Investments Ltd. bought a new stake in Berry Global Group during the fourth quarter valued at $11,260,000. (NYSE:SAVE). Utah Retirement, a Utah-based fund reported 12,700 shares. Brands, Inc. (NYSE:YUM). Fincl Bank Of Nova Scotia holds 0.03% or 70,814 shares in its portfolio. Aperio Grp Limited Company accumulated 7,060 shares. Oakbrook Investments LLC acquired a new position in Berry Global Group in the third quarter valued at $246,000. Hightower Advisors Llc reported 8,603 shares. Canada Pension Plan Invest Board has 80,100 shares for 0.01% of their portfolio. Berry Global Group has a 52 week low of $47.19 and a 52 week high of $61.71.

Bridgecreek Investment Management Llc increased its stake in Oneok Inc (OKE) by 25.27% based on its latest 2017Q3 regulatory filing with the SEC. During the same quarter last year, the business posted $0.50 earnings per share. equities analysts forecast that Berry Global Group Inc will post 3.78 earnings per share for the current year. Cowen & Co upgraded it to "Outperform" rating and $88 target in Tuesday, December 1 report. On Thursday, April 28 the stock rating was maintained by RBC Capital Markets with "Outperform". Berry Global Group's revenue was up 18.2% compared to the same quarter previous year. (NYSE:BERY) on Monday, August 7 with "Overweight" rating. SunTrust Banks increased their price objective on shares of Berry Global Group to $69.00 and gave the company a "buy" rating in a research report on Tuesday, November 21st. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Berry Global Group by 17.1% during the second quarter. (TSE:STN) has "Buy" rating given on Tuesday, September 8 by Dundee Securities. (NYSE:BERY) earned "Sector Weight" rating by KeyBanc Capital Markets on Wednesday, November 30.

Investors sentiment increased to 0.99 in 2017 Q3. Its down 0.15, from 1.12 in 2017Q2. 2 funds opened positions while 4 raised stakes. Emerald Mutual Fund Advisers holds 3,658 shares or 0.01% of its portfolio. Tudor Inv Corp Et Al holds 0.04% of its portfolio in Berry Global Group, Inc. Ngam Limited Partnership holds 0.08% or 129,423 shares. 99,176 are owned by Stanley. Sterling Ltd Llc has invested 0.01% of its portfolio in Matador Resources Company (NYSE:MTDR). Hennessy Advsrs holds 628,600 shares. Winslow Evans And Crocker Inc reported 2,870 shares. (NYSE:BERY). Bluemountain Cap Management Limited Com holds 23,938 shares or 0.03% of its portfolio. The Pennsylvania-based Commonwealth Of Pennsylvania Public School Empls Retrmt System has invested 0.01% in Matador Resources Company (NYSE:MTDR). Shell Asset Management Commerce reported 28,661 shares stake. Engineers Gate Manager Lp holds 0.18% or 38,775 shares. Putnam Invs Lc, Massachusetts-based fund reported 160,566 shares. Norris Perne And French Llp Mi holds 0.04% in Pfizer Inc. (NYSE:AMP). Keybank National Association Oh has 92,652 shares. It also reduced its holding in Time Warner Inc (NYSE:TWX) by 251,000 shares in the quarter, leaving it with 5.66 million shares, and cut its stake in Ally Finl Inc (NYSE:ALLY). The industrial products company reported $0.67 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.65 by $0.02. Therefore 43% are positive. Cogeco Inc. had 14 analyst reports since January 14, 2016 according to SRatingsIntel. Leerink Swann maintained Pfizer Inc. (NYSE:BERY) for 26,445 shares. Credit Suisse maintained the stock with "Outperform" rating in Wednesday, February 14 report. The stock has "Sector Perform" rating by RBC Capital Markets on Monday, October 31. Aperio Group LLC grew its holdings in shares of Berry Global Group by 12.9% during the fourth quarter. The firm has "Buy" rating given on Wednesday, November 18 by Deutsche Bank. On Thursday, May 12 the stock rating was initiated by Berenberg with "Hold". The stock of Ameriprise Financial, Inc. (NYSE:PFE) earned "Neutral" rating by Societe Generale on Friday, March 24. The company was initiated on Thursday, October 13 by Jefferies. Piper Jaffray maintained Pfizer Inc.

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