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

Berry Global Group, Inc. (NYSE:BERY) was the recipient of a large increase in short interest during the month of 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. Currently, 6.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 4.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BERY. Truist Financial raised their price target on shares of Berry Global Group from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, February 10th. StockNews.com assumed coverage on shares of Berry Global Group in a research report on Tuesday, March 25th. They set a “buy” rating for the company. Finally, UBS Group upped their target price on Berry Global Group from $72.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.56.

Institutional Trading of Berry Global Group

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. grew its position in Berry Global Group by 89.0% in the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock valued at $42,000 after buying an additional 306 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Berry Global Group by 28.8% during the 4th quarter. Quadrant Capital Group LLC now owns 738 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 165 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Berry Global Group by 3,569.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 844 shares of the industrial products company’s stock worth $55,000 after buying an additional 821 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Berry Global Group by 463.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. boosted its stake in shares of Berry Global Group by 7,390.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 1,626 shares in the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Down 0.8 %

Shares of BERY stock traded down $0.53 during trading hours on Friday, hitting $69.46. The company had a trading volume of 1,366,745 shares, compared to its average volume of 1,232,939. The stock has a market capitalization of $8.04 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.61 and a quick ratio of 1.09. Berry Global Group has a fifty-two week low of $55.24 and a fifty-two week high of $74.24. The company’s fifty day moving average is $70.20 and its 200 day moving average is $68.64.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Berry Global Group had a net margin of 3.99% and a return on equity of 28.26%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company earned $1.22 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Berry Global Group will post 6.25 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.31 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.79%. Berry Global Group’s payout ratio is currently 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.