Short Interest in Berry Global Group, Inc. (NYSE:BERY) Increases By 5.5%

Berry Global Group, Inc. (NYSE:BERYGet Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 4,420,000 shares, a growth of 5.5% from the September 30th total of 4,190,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average trading volume of 757,700 shares, the short-interest ratio is presently 5.8 days.

Berry Global Group Price Performance

Shares of Berry Global Group stock opened at $70.73 on Thursday. The stock’s 50-day simple moving average is $67.72 and its 200-day simple moving average is $63.08. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $70.91. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.10 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

Berry Global Group (NYSE:BERYGet Free Report) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The business’s revenue was down 2.1% on a year-over-year basis. As a group, analysts expect that Berry Global Group will post 7.6 earnings per share for the current fiscal year.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, December 2nd. Berry Global Group’s payout ratio is presently 23.50%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BERY shares. Morgan Stanley started coverage on Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective for the company. UBS Group cut their price objective on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Truist Financial lifted their target price on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.22.

Check Out Our Latest Analysis on BERY

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the completion of the sale, the director now owns 30,228 shares of the company’s stock, valued at $2,119,889.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Berry Global Group

Large investors have recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in shares of Berry Global Group in the second quarter valued at about $27,000. Quest Partners LLC lifted its position in shares of Berry Global Group by 54,800.0% in the second quarter. Quest Partners LLC now owns 549 shares of the industrial products company’s stock worth $32,000 after buying an additional 548 shares in the last quarter. LRI Investments LLC lifted its position in shares of Berry Global Group by 1,309.1% in the second quarter. LRI Investments LLC now owns 620 shares of the industrial products company’s stock worth $36,000 after buying an additional 576 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Berry Global Group in the second quarter worth about $42,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Berry Global Group in the second quarter worth about $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

About Berry Global Group

(Get Free Report)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.

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