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

Berry Global Group, Inc. (NYSE:BERY) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 7,450,000 shares, a growth of 75.3% from the February 28th total of 4,250,000 shares. Approximately 6.5% of the shares of the company 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.

Berry Global Group Stock Performance

Shares of NYSE:BERY opened at $69.46 on Monday. Berry Global Group has a 1 year low of $55.24 and a 1 year high of $74.24. The stock has a market capitalization of $8.04 billion, a price-to-earnings 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. The company’s 50 day simple moving average is $70.20 and its 200 day simple moving average is $68.64.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings results 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. Berry Global Group had a return on equity of 28.26% and a net margin of 3.99%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company posted $1.22 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts predict that Berry Global Group will post 6.25 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.79%. Berry Global Group’s dividend payout ratio (DPR) is currently 30.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BERY. StockNews.com started coverage on shares of Berry Global Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. Truist Financial raised their target price 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. Finally, UBS Group boosted their price target on Berry Global Group from $72.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Berry Global Group currently has an average rating of “Hold” and an average target price of $74.56.

Institutional Investors Weigh In On Berry Global Group

A number of hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. grew its position in Berry Global Group by 89.0% during the 4th quarter. UMB Bank n.a. now owns 650 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 306 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Berry Global Group by 28.8% during the fourth 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 last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of 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 purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Berry Global Group by 463.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,065 shares of the industrial products company’s stock valued at $69,000 after buying an additional 876 shares during the period. Finally, Atlas Capital Advisors Inc. raised its holdings in Berry Global Group by 7,390.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 1,648 shares of the industrial products company’s stock valued at $107,000 after buying an additional 1,626 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.