Berry Global Group, Inc. (NYSE:BERY) Short Interest Up 75.3% in March

Berry Global Group, Inc. (NYSE:BERY) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 7,450,000 shares, an increase of 75.3% from the February 28th total of 4,250,000 shares. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is presently 4.5 days. Currently, 6.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BERY. UBS Group increased their price objective on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. StockNews.com started coverage on Berry Global Group in a research report on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Truist Financial lifted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a “hold” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Berry Global Group currently has an average rating of “Hold” and an average target price of $74.56.

Institutional Trading of Berry Global Group

A number of hedge funds have recently made changes to their positions in BERY. Geode Capital Management LLC raised its stake in Berry Global Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,517 shares of the industrial products company’s stock valued at $134,806,000 after acquiring an additional 27,437 shares during the period. Sound Income Strategies LLC increased its holdings in shares of Berry Global Group by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 72,914 shares of the industrial products company’s stock valued at $4,715,000 after purchasing an additional 8,622 shares during the last quarter. Barclays PLC raised its position in shares of Berry Global Group by 87.1% in the third quarter. Barclays PLC now owns 101,956 shares of the industrial products company’s stock valued at $6,931,000 after purchasing an additional 47,476 shares during the period. Goldentree Asset Management LP acquired a new stake in shares of Berry Global Group during the 3rd quarter worth about $24,288,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Berry Global Group by 333.1% during the 4th quarter. SG Americas Securities LLC now owns 9,697 shares of the industrial products company’s stock worth $627,000 after buying an additional 7,458 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Trading Down 0.8 %

NYSE BERY opened at $69.46 on Monday. Berry Global Group has a 12 month low of $55.24 and a 12 month high of $74.24. The company has a current ratio of 1.61, a quick ratio of 1.09 and a debt-to-equity ratio of 3.35. The stock has a 50 day moving average of $70.20 and a 200-day moving average of $68.64. The company has a market cap of $8.04 billion, a PE ratio of 17.32, a PEG ratio of 1.54 and a beta of 1.13.

Berry Global Group (NYSE:BERY) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. On average, equities research analysts anticipate that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Monday, March 3rd. Berry Global Group’s dividend payout ratio (DPR) is presently 30.92%.

Berry Global Group Company Profile

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.