Berry Global Group, Inc. (NYSE:BERY) Short Interest Down 5.7% in April

Berry Global Group, Inc. (NYSE:BERY) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 3,940,000 shares, a decline of 5.7% from the March 31st total of 4,180,000 shares. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is presently 3.2 days. Currently, 3.4% of the shares of the company are sold short.

Berry Global Group Trading Up 0.7 %

Shares of BERY stock opened at $57.44 on Tuesday. Berry Global Group has a 1-year low of $53.83 and a 1-year high of $69.93. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The business’s fifty day moving average price is $58.71 and its 200 day moving average price is $61.46. The firm has a market capitalization of $6.66 billion, a PE ratio of 12.35, a P/E/G ratio of 0.77 and a beta of 1.25.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, sell-side analysts forecast that Berry Global Group will post 7.38 EPS for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.92%. Berry Global Group’s dividend payout ratio (DPR) is presently 23.66%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BERY shares. UBS Group increased their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Truist Financial reissued a “hold” rating and issued a $68.00 target price (down previously from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. Barclays cut their price objective on Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Finally, StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $72.00.

Insider Activity at Berry Global Group

In related news, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average price of $58.49 per share, with a total value of $58,490.00. Following the purchase, the director now owns 5,728 shares of the company’s stock, valued at $335,030.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jonathan F. Foster purchased 1,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter T. Thomas acquired 2,000 shares of the stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Berry Global Group during the 4th quarter worth about $31,000. First Horizon Advisors Inc. grew its position in Berry Global Group by 69.6% during the third quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 224 shares during the period. Blue Trust Inc. increased its position in Berry Global Group by 203.7% during the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 436 shares in the last quarter. Quarry LP raised its holdings in Berry Global Group by 433.1% in the fourth quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after buying an additional 615 shares during the period. Finally, CWM LLC lifted its position in Berry Global Group by 200.0% during the fourth quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,050 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About Berry Global Group

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.