Robert Polak decreased its stake in Berry Plastics Group Inc (NYSE:BERY) by 12.73% based on its latest 2016Q1 regulatory filing with the SEC. Anchor Bolt Capital Lp sold 703,106 shares as the company’s stock rose 4.42% with the market. The hedge fund run by Robert Polak held 4.82 million shares of the plastic products company at the end of 2016Q1, valued at $174.20 million, down from 5.52 million at the end of the previous reported quarter. Anchor Bolt Capital Lp who had been investing in Berry Plastics Group Inc for a number of months, seems to be less bullish one the $4.80 billion market cap company. The stock decreased 0.62% or $0.25 during the last trading session, hitting $40. About 831,182 shares traded hands. Berry Plastics Group Inc (NYSE:BERY) has risen 6.78% since December 8, 2015 and is uptrending. It has outperformed by 3.15% the S&P500.

Anchor Bolt Capital Lp, which manages about $849.21 million and $3.04 billion US Long portfolio, upped its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 89,010 shares to 205,115 shares, valued at $16.85M in 2016Q1, according to the filing. It also increased its holding in Cf Inds Hldgs Inc (NYSE:CF) by 238,946 shares in the quarter, for a total of 2.39 million shares, and has risen its stake in Turquoise Hill Res Ltd (NYSE:TRQ).

Robert Polak manages Anchor Bolt Capital out of Chicago, IL. Anchor Bolt Capital was founded in 2012. Robert Polak previously worked at Copper Arch Capital, NWQ Investment Management, Salomon Brothers and with Ken Griffin at Citadel. He was manager of Citadel’s global industrials investments. Anchor Bolt Capital Lp is a Illinois-based hedge fund that was founded by Robert Polak. It had more than $849.21 million assets under management in April, 2014. Taken from Anchor Bolt Capital latest Adv, the fund reported to have 10 full and part-time employees. Among which 6 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

The institutional sentiment decreased to 1.02 in Q1 2016. Its down 0.49, from 1.51 in 2015Q4. The ratio dropped, as 47 funds sold all BERY shares owned while 84 reduced positions. 33 funds bought stakes while 101 increased positions. They now own 118.88 million shares or 2.05% more from 116.49 million shares in 2015Q4.

Anchor Bolt Capital Lp holds 5.73% of its portfolio in BERY for 4.82 million shares. Lomas Capital Management Llc owns 786,702 shares or 5.73% of their US portfolio. Moreover, Rivulet Capital Llc has 5.18% invested in the company for 462,333 shares. The Illinois-based Dsc Advisors L.P. has invested 4.94% in the stock. Canyon Capital Advisors Llc, a California-based fund reported 3.37 million shares.

Out of 7 analysts covering Berry Plastics Group Inc (NYSE:BERY), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. Berry Plastics Group Inc has been the topic of 10 analyst reports since August 3, 2015 according to StockzIntelligence Inc. SunTrust initiated the stock on July 13 with “Neutral” rating.

Berry Plastics Group, Inc. is a provider of plastic consumer packaging and engineered materials. The company has a market cap of $4.80 billion. The Firm offers a range of products, including specialty closures, prescription vials, specialty films, adhesives, corrosion protection materials, as well as drink cups, thin-wall containers and bottles. It has a 50.67 P/E ratio. The Firm has three divisions: Health, Hygiene and Specialties; Consumer Packaging, and Engineered Materials.

 

Source : consumereagle.com

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