Newbrook Capital Advisors LP Position in Berry Global Group (BERY) Cut as Valuation Rose; Shareholder Neuberger Berman Group Boosted Columbia Banking Systems (COLB) Position

December 20, 2017 - By Migdalia James

Neuberger Berman Group Llc increased its stake in Columbia Banking Systems Inc (COLB) by 44.67% based on its latest 2017Q2 regulatory filing with the SEC. Neuberger Berman Group Llc bought 581,814 shares as the company’s stock declined 8.05% while stock markets rallied. The institutional investor held 1.88 million shares of the finance company at the end of 2017Q2, valued at $75.09 million, up from 1.30M at the end of the previous reported quarter. Neuberger Berman Group Llc who had been investing in Columbia Banking Systems Inc for a number of months, seems to be bullish on the $3.26 billion market cap company. The stock decreased 0.82% or $0.37 during the last trading session, reaching $44.59. About 106,653 shares traded. Columbia Banking System, Inc. (NASDAQ:COLB) has risen 31.63% since December 20, 2016 and is uptrending. It has outperformed by 14.93% the S&P500.

Robert Boucai decreased its stake in Berry Global Group Inc (BERY) by 52.02% based on its latest 2017Q2 regulatory filing with the SEC. Newbrook Capital Advisors Lp sold 1.38 million shares as the company’s stock rose 10.63% with the market. The hedge fund run by Robert Boucai held 1.27M shares of the plastic products company at the end of 2017Q2, valued at $72.61 million, down from 2.65 million at the end of the previous reported quarter. Newbrook Capital Advisors Lp who had been investing in Berry Global Group Inc for a number of months, seems to be less bullish one the $7.75B market cap company. The stock decreased 0.42% or $0.25 during the last trading session, reaching $59.18. About 645,384 shares traded. Berry Global Group, Inc. (NYSE:BERY) has risen 47.68% since December 20, 2016 and is uptrending. It has outperformed by 30.98% the S&P500.

Newbrook Capital Advisors Lp, which manages about $2.18B and $1.25 billion US Long portfolio, upped its stake in Mohawk Inds Inc (NYSE:MHK) by 154,932 shares to 193,175 shares, valued at $46.69M in 2017Q2, according to the filing. It also increased its holding in Adobe Sys Inc (NASDAQ:ADBE) by 16,001 shares in the quarter, for a total of 268,935 shares, and has risen its stake in Restaurant Brands Intl Inc.

Investors sentiment decreased to 0.92 in 2017 Q2. Its down 0.29, from 1.21 in 2017Q1. It turned negative, as 29 investors sold BERY shares while 126 reduced holdings. 50 funds opened positions while 93 raised stakes. 119.74 million shares or 3.80% less from 124.48 million shares in 2017Q1 were reported. Geode Ltd holds 0.02% of its portfolio in Berry Global Group, Inc. (NYSE:BERY) for 968,877 shares. Rhumbline Advisers has 145,383 shares. The Connecticut-based Point72 Asset Mngmt LP has invested 0.08% in Berry Global Group, Inc. (NYSE:BERY). Monroe Retail Bank And Mi reported 0% stake. Thompson Davis Inc reported 250 shares. State Of Tennessee Treasury Department invested 0.1% in Berry Global Group, Inc. (NYSE:BERY). Boston Advsr Llc invested 0.32% in Berry Global Group, Inc. (NYSE:BERY). Ionic Capital Mgmt Lc has invested 0.23% in Berry Global Group, Inc. (NYSE:BERY). Metropolitan Life Ins New York holds 0% or 9,271 shares. Stevens Capital Management LP owns 53,076 shares or 0.11% of their US portfolio. Newbrook Capital Advsr LP invested 5.79% of its portfolio in Berry Global Group, Inc. (NYSE:BERY). Millennium Management Lc holds 0.03% or 261,218 shares in its portfolio. Hennessy Inc has invested 1.21% in Berry Global Group, Inc. (NYSE:BERY). Penn Cap Mgmt stated it has 16,999 shares or 0.07% of all its holdings. Capwealth Advisors Ltd Liability Co holds 7,280 shares or 0.08% of its portfolio.

Among 16 analysts covering Berry Plastics Group Inc (NYSE:BERY), 13 have Buy rating, 0 Sell and 3 Hold. Therefore 81% are positive. Berry Plastics Group Inc had 51 analyst reports since August 3, 2015 according to SRatingsIntel. The stock of Berry Global Group, Inc. (NYSE:BERY) has “Overweight” rating given on Monday, August 7 by Barclays Capital. Robert W. Baird maintained Berry Global Group, Inc. (NYSE:BERY) rating on Friday, August 26. Robert W. Baird has “Outperform” rating and $55 target. The rating was initiated by JP Morgan with “Overweight” on Tuesday, September 13. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, November 30 report. The firm earned “Buy” rating on Wednesday, April 12 by RBC Capital Markets. The firm has “Buy” rating given on Monday, September 18 by RBC Capital Markets. The firm earned “Hold” rating on Thursday, November 16 by KeyBanc Capital Markets. The stock of Berry Global Group, Inc. (NYSE:BERY) has “Hold” rating given on Wednesday, August 23 by KeyBanc Capital Markets. Jefferies initiated Berry Global Group, Inc. (NYSE:BERY) rating on Thursday, October 13. Jefferies has “Buy” rating and $52 target. The firm has “Hold” rating given on Monday, May 1 by BMO Capital Markets.

Neuberger Berman Group Llc, which manages about $77.86 billion US Long portfolio, decreased its stake in Charles Schwab Corp New (NYSE:SCHW) by 612,304 shares to 3.15M shares, valued at $135.34M in 2017Q2, according to the filing. It also reduced its holding in Applied Industrial (NYSE:AIT) by 36,393 shares in the quarter, leaving it with 836,332 shares, and cut its stake in Best Buy Company Inc (NYSE:BBY).

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