Berry Plastics Group Inc (BERY) : Verition Fund Management reduced its stake in Berry Plastics Group Inc by 25.39% during the most recent quarter end. The investment management company now holds a total of 85,000 shares of Berry Plastics Group Inc which is valued at $3,634,600 after selling 28,922 shares in Berry Plastics Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Berry Plastics Group Inc makes up approximately 0.89% of Verition Fund Management’s portfolio.
Other Hedge Funds, Including , Scopus Asset Management boosted its stake in BERY in the latest quarter, The investment management firm added 225,000 additional shares and now holds a total of 500,000 shares of Berry Plastics Group Inc which is valued at $21,380,000. Berry Plastics Group Inc makes up approx 0.57% of Scopus Asset Management’s portfolio.Nicholas Investment Partners Lp reduced its stake in BERY by selling 56,421 shares or 34.6% in the most recent quarter. The Hedge Fund company now holds 106,660 shares of BERY which is valued at $4,560,782. Berry Plastics Group Inc makes up approx 0.39% of Nicholas Investment Partners Lp’s portfolio.Penn Capital Management Co Inc reduced its stake in BERY by selling 38,791 shares or 23.53% in the most recent quarter. The Hedge Fund company now holds 126,085 shares of BERY which is valued at $5,391,395. Berry Plastics Group Inc makes up approx 0.30% of Penn Capital Management Co Inc’s portfolio. Janus Capital Management added BERY to its portfolio by purchasing 13,000 company shares during the most recent quarter which is valued at $555,880.American Century Companies Inc reduced its stake in BERY by selling 331,891 shares or 23.89% in the most recent quarter. The Hedge Fund company now holds 1,057,509 shares of BERY which is valued at $43,780,873. Berry Plastics Group Inc makes up approx 0.05% of American Century Companies Inc’s portfolio.
Berry Plastics Group Inc opened for trading at $45.5 and hit $45.55 on the upside on Thursday, eventually ending the session at $45.49, with a gain of 0.22% or 0.1 points. The heightened volatility saw the trading volume jump to 9,34,768 shares. Company has a market cap of $5,532 M.
On the company’s financial health, Berry Plastics Group Inc reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.61. The company had revenue of $1645.00 million for the quarter, compared to analysts expectations of $1679.32 million. The company’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.
Many Wall Street Analysts have commented on Berry Plastics Group Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $44 .SunTrust Initiated Berry Plastics Group Inc on Jul 13, 2016 to “Neutral”, Price Target of the shares are set at $42.Barclays Resumed Berry Plastics Group Inc on Jun 15, 2016 to “Overweight”, Price Target of the shares are set at $45.
Berry Plastics Group Inc. is engaged in providing plastic consumer packaging and engineered materials. The Companys products include drink cups thin-wall containers bottles specialty closures prescription vials specialty films adhesives and corrosion protection materials. The Company operates in four operating segments: Rigid Open Top and Rigid Closed Top which sells primarily containers foodservice items closures overcaps bottles prescription containers and tubes; Engineered Materials which sells pipeline corrosion protection solutions tapes and adhesives PE (polyethylene)-based film products and can liners; and Flexible Packaging which sells high barrier multilayer film products as well as finished flexible packages such as printed bags and pouches. The Company sells its solutions into consumer-oriented end-markets such as food and beverage healthcare and personal care.