First Mercantile Trust Co Lowers stake in Berry Plastics Group Inc (BERY)

Berry Plastics Group Inc (BERY) : First Mercantile Trust Co reduced its stake in Berry Plastics Group Inc by 7.78% during the most recent quarter end. The investment management company now holds a total of 15,422 shares of Berry Plastics Group Inc which is valued at $666,385 after selling 1,301 shares in Berry Plastics Group Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Berry Plastics Group Inc makes up approximately 0.09% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in BERY in the latest quarter, The investment management firm added 59 additional shares and now holds a total of 159 shares of Berry Plastics Group Inc which is valued at $6,870.Bnp Paribas Arbitrage Sa boosted its stake in BERY in the latest quarter, The investment management firm added 95,823 additional shares and now holds a total of 228,647 shares of Berry Plastics Group Inc which is valued at $9,932,426. Berry Plastics Group Inc makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio.Lynch Associatesin reduced its stake in BERY by selling 500 shares or 8.56% in the most recent quarter. The Hedge Fund company now holds 5,338 shares of BERY which is valued at $231,883. Berry Plastics Group Inc makes up approx 0.10% of Lynch Associatesin’s portfolio.Harbour Capital Advisors reduced its stake in BERY by selling 2,350 shares or 9.66% in the most recent quarter. The Hedge Fund company now holds 21,975 shares of BERY which is valued at $954,594. Berry Plastics Group Inc makes up approx 0.51% of Harbour Capital Advisors’s portfolio.

Berry Plastics Group Inc closed down -0.38 points or -0.87% at $43.21 with 13,66,925 shares getting traded on Friday. Post opening the session at $43.66, the shares hit an intraday low of $43.1 and an intraday high of $43.71 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. JP Morgan Initiated Berry Plastics Group Inc on Sep 13, 2016 to “Overweight”, Price Target of the shares are set at $54.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.

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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