Axiom International Investors De buys $80.3 Million stake in Berry Plastics Group Inc (BERY)

Berry Plastics Group Inc (BERY) : Axiom International Investors De scooped up 99,122 additional shares in Berry Plastics Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,083,375 shares of Berry Plastics Group Inc which is valued at $80.3 Million.Berry Plastics Group Inc makes up approximately 2.50% of Axiom International Investors De’s portfolio.

Other Hedge Funds, Including , Penn Capital Management Co Inc reduced its stake in BERY by selling 11,320 shares or 6.42% in the most recent quarter. The Hedge Fund company now holds 164,876 shares of BERY which is valued at $6.4 Million. Berry Plastics Group Inc makes up approx 0.36% of Penn Capital Management Co Inc’s portfolio. Mycio Wealth Partners added BERY to its portfolio by purchasing 50 company shares during the most recent quarter which is valued at $1,926. Engineers Gate Manager Lp sold out all of its stake in BERY during the most recent quarter. The investment firm sold 157,221 shares of BERY which is valued $6.1 Million.Numeric Investors reduced its stake in BERY by selling 381,700 shares or 77.69% in the most recent quarter. The Hedge Fund company now holds 109,600 shares of BERY which is valued at $4 Million. Berry Plastics Group Inc makes up approx 0.04% of Numeric Investors’s portfolio.Thompson Davis reduced its stake in BERY by selling 251 shares or 90.29% in the most recent quarter. The Hedge Fund company now holds 27 shares of BERY which is valued at $979.

Berry Plastics Group Inc opened for trading at $38.23 and hit $38.32 on the upside on Friday, eventually ending the session at $38.15, with a gain of 0.45% or 0.17 points. The heightened volatility saw the trading volume jump to 8,11,496 shares. Company has a market cap of $4,612 M.

On the company’s financial health, Berry Plastics Group Inc reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 10, 2016. Analyst had a consensus of $0.49. The company had revenue of $1614.00 million for the quarter, compared to analysts expectations of $1652.97 million. The company’s revenue was up 31.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Berry Plastics Group Inc. Berry Plastics Group Inc was Initiated by Goldman to “Buy” on May 12, 2016. Company shares were Reiterated by RBC Capital Mkts on May 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 43 from a previous price target of $41 .RBC Capital Mkts Initiated Berry Plastics Group Inc on Feb 19, 2016 to “Outperform”, Price Target of the shares are set at $38.

Berry Plastics Group Inc. is engaged in providing plastic consumer packaging and engineered materials. The Company’s 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.

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