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

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) was the target of a large 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. Currently, 3.4% of the company's stock are short sold. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BERY. Royal Bank of Canada boosted their target price on shares of Berry Global Group from $69.00 to $73.00 and gave the company a "sector perform" rating in a research report on Thursday, November 21st. UBS Group cut shares of Berry Global Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $76.00 target price (up from $70.00) on shares of Berry Global Group in a research report on Monday, November 25th. Truist Financial reiterated a "hold" rating and set a $72.00 target price (down from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, Barclays upped their price target on shares of Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $73.73.

Insider Buying and Selling at Berry Global Group

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company's stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company's stock.

Institutional Trading of Berry Global Group

Several large investors have recently made changes to their positions in BERY. Altshuler Shaham Ltd acquired a new stake in shares of Berry Global Group in the second quarter valued at about $27,000. Quest Partners LLC increased its stake in shares of Berry Global Group by 54,800.0% in the 2nd quarter. Quest Partners LLC now owns 549 shares of the industrial products company's stock worth $32,000 after acquiring an additional 548 shares during the last quarter. LRI Investments LLC boosted its position in shares of Berry Global Group by 1,309.1% during the 2nd quarter. LRI Investments LLC now owns 620 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 576 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Berry Global Group during the second quarter worth about $42,000. Finally, American Capital Advisory LLC acquired a new position in Berry Global Group in the second quarter valued at approximately $44,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Berry Global Group Price Performance

Shares of Berry Global Group stock traded down $0.95 on Tuesday, hitting $66.66. The company's stock had a trading volume of 1,629,318 shares, compared to its average volume of 1,116,353. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $73.31. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The firm has a fifty day moving average price of $69.07 and a 200-day moving average price of $65.63.

Berry Global Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Berry Global Group's previous quarterly dividend of $0.28. Berry Global Group's dividend payout ratio (DPR) is 28.25%.

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.