Berry Global Group, Inc. (NYSE:BERY) Short Interest Update

Berry Global Group, Inc. (NYSE:BERY) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 3,910,000 shares, a decline of 5.6% from the November 15th total of 4,140,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 3.0 days. Currently, 3.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BERY. Truist Financial reaffirmed a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a report on Wednesday, November 20th. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Citigroup reissued a “neutral” rating and set a $76.00 target price on shares of Berry Global Group in a report on Monday, November 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $76.00 price target (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Finally, Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research note on Thursday, November 21st. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.40.

Berry Global Group Stock Down 3.0 %

Shares of NYSE:BERY opened at $64.66 on Thursday. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $73.31. The stock has a market cap of $7.45 billion, a P/E ratio of 14.73, a PEG ratio of 1.38 and a beta of 1.14. The business has a fifty day moving average of $69.08 and a two-hundred day moving average of $65.67. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is currently 28.25%.

Insider Buying and Selling

In other news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now owns 30,228 shares in the company, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. raised its stake in shares of Berry Global Group by 2.2% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 15,279,107 shares of the industrial products company’s stock valued at $1,038,674,000 after acquiring an additional 336,186 shares during the period. State Street Corp raised its position in Berry Global Group by 10.4% in the third quarter. State Street Corp now owns 3,831,824 shares of the industrial products company’s stock valued at $260,487,000 after purchasing an additional 360,857 shares during the period. FMR LLC raised its position in Berry Global Group by 38.4% in the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares during the period. Dimensional Fund Advisors LP lifted its stake in Berry Global Group by 30.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock worth $204,365,000 after purchasing an additional 807,211 shares in the last quarter. Finally, Eminence Capital LP boosted its position in shares of Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after buying an additional 492,793 shares during the period. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

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.