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

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) saw a significant increase in short interest in 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. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is currently 4.5 days. Approximately 6.5% of the company's shares are sold short.

Berry Global Group Stock Down 0.5 %

Shares of BERY stock traded down $0.36 during trading hours on Wednesday, reaching $70.18. The company had a trading volume of 715,985 shares, compared to its average volume of 1,238,921. The company has a market capitalization of $8.13 billion, a P/E ratio of 17.50, 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 quick ratio of 1.09 and a current ratio of 1.61. Berry Global Group has a twelve month low of $55.24 and a twelve month high of $74.24. The stock's fifty day simple moving average is $70.29 and its 200 day simple moving average is $68.70.

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

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Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 1.77%. Berry Global Group's dividend payout ratio is currently 30.92%.

Institutional Trading of Berry Global Group

Large investors have recently modified their holdings of the business. Balyasny Asset Management L.P. purchased a new position in Berry Global Group in the fourth quarter valued at about $105,092,000. Norges Bank acquired a new position in shares of Berry Global Group in the 4th quarter valued at approximately $91,526,000. Magnetar Financial LLC purchased a new position in shares of Berry Global Group during the 4th quarter valued at approximately $71,882,000. FMR LLC grew its position in shares of Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company's stock worth $258,821,000 after buying an additional 1,055,756 shares in the last quarter. Finally, AQR Arbitrage LLC acquired a new stake in shares of Berry Global Group during the fourth quarter worth approximately $53,950,000. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BERY. Truist Financial boosted their price objective on shares of Berry Global Group from $74.00 to $76.00 and gave the company a "hold" rating in a research note on Monday, February 10th. StockNews.com started coverage on Berry Global Group in a research report on Wednesday. They set a "buy" rating for the company. Finally, UBS Group raised 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. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $74.56.

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.