Berry Global Group, Inc. (NYSE:BERY) Short Interest Up 7.0% in December

Berry Global Group, Inc. (NYSE:BERYGet Rating) was the target of a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 2,450,000 shares, a growth of 7.0% from the December 15th total of 2,290,000 shares. Based on an average daily trading volume, of 940,700 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.0% of the company’s stock are sold short.

Berry Global Group Stock Performance

Shares of BERY opened at $58.98 on Wednesday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 10.17, a PEG ratio of 0.79 and a beta of 1.19. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.82 and a quick ratio of 1.18. Berry Global Group has a one year low of $44.52 and a one year high of $68.60. The business has a fifty day moving average of $59.48 and a 200 day moving average of $54.89.

Berry Global Group (NYSE:BERYGet Rating) last released its quarterly earnings results on Tuesday, November 15th. The industrial products company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. Berry Global Group had a return on equity of 30.32% and a net margin of 5.28%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.68 billion. As a group, sell-side analysts anticipate that Berry Global Group will post 7.48 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $1.00 annualized dividend and a yield of 1.70%. Berry Global Group’s payout ratio is presently 17.24%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BERY. Citigroup raised their price objective on Berry Global Group from $67.00 to $75.00 in a research report on Wednesday, January 4th. Credit Suisse Group dropped their price target on shares of Berry Global Group from $78.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 6th. Wells Fargo & Company reduced their price objective on shares of Berry Global Group from $74.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Berry Global Group from $69.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Finally, Morgan Stanley raised their price target on shares of Berry Global Group from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Insider Buying and Selling at Berry Global Group

In other news, EVP Jason K. Greene sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the executive vice president now directly owns 250 shares of the company’s stock, valued at approximately $15,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wipfli Financial Advisors LLC bought a new position in shares of Berry Global Group during the 3rd quarter valued at approximately $30,000. American National Bank purchased a new position in Berry Global Group during the third quarter valued at approximately $33,000. Brown Brothers Harriman & Co. bought a new position in shares of Berry Global Group in the first quarter worth approximately $38,000. Ronald Blue Trust Inc. purchased a new stake in shares of Berry Global Group in the second quarter worth $40,000. Finally, Arlington Partners LLC bought a new stake in shares of Berry Global Group during the 2nd quarter valued at $46,000. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Berry Global Group Company Profile

(Get Rating)

Berry Global Group, Inc engages in the provision of innovative rigid, flexible, and non-woven products. It operates through the following segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene and Specialties. The Consumer Packaging International segment consists of rigid products that primarily service non-North American markets.

Recommended Stories

Receive News & Ratings for Berry Global Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Berry Global Group and related companies with MarketBeat.com's FREE daily email newsletter.