Short Interest in Berry Global Group, Inc. (NYSE:BERY) Decreases By 5.7%

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 3,940,000 shares, a drop of 5.7% from the March 31st total of 4,180,000 shares. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is presently 3.2 days. Approximately 3.4% of the shares of the company are short sold.

Insider Buying and Selling at Berry Global Group

In other news, Director Peter T. Thomas purchased 2,000 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company's stock, valued at $112,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Berry Global Group news, Director Peter T. Thomas purchased 2,000 shares of the business's stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $56.00 per share, for a total transaction of $112,000.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at $112,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan F. Foster bought 1,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $58.49 per share, for a total transaction of $58,490.00. Following the transaction, the director now directly owns 5,728 shares of the company's stock, valued at approximately $335,030.72. The disclosure for this purchase can be found here. Corporate insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On Berry Global Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Berry Global Group in the fourth quarter valued at approximately $81,617,000. TD Asset Management Inc bought a new stake in shares of Berry Global Group during the 4th quarter valued at $23,803,000. Epoch Investment Partners Inc. lifted its stake in shares of Berry Global Group by 39.1% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,033,568 shares of the industrial products company's stock valued at $69,652,000 after purchasing an additional 290,781 shares during the period. Sasco Capital Inc. CT bought a new position in shares of Berry Global Group in the 3rd quarter worth $17,518,000. Finally, Invesco Ltd. grew its stake in shares of Berry Global Group by 60.1% during the third quarter. Invesco Ltd. now owns 621,408 shares of the industrial products company's stock worth $38,471,000 after purchasing an additional 233,368 shares during the period. 95.36% of the stock is owned by institutional investors and hedge funds.

Berry Global Group Price Performance

Berry Global Group stock traded down $0.81 on Tuesday, reaching $56.64. The company's stock had a trading volume of 739,545 shares, compared to its average volume of 1,120,180. The business's fifty day moving average price is $58.71 and its 200 day moving average price is $61.46. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.95 and a current ratio of 1.67. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.77 and a beta of 1.25. Berry Global Group has a twelve month low of $53.83 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company's revenue was down 6.8% compared to the same quarter last year. Equities analysts expect that Berry Global Group will post 7.38 earnings per share for the current fiscal year.

Berry Global Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.275 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.10 dividend on an annualized basis and a yield of 1.94%. Berry Global Group's payout ratio is 23.66%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BERY. TheStreet lowered Berry Global Group from a "b-" rating to a "c+" rating in a report on Monday, February 26th. UBS Group increased their price target on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a "buy" rating in a research report on Tuesday, January 16th. StockNews.com downgraded Berry Global Group from a "buy" rating to a "hold" rating in a report on Thursday, February 8th. Wolfe Research initiated coverage on Berry Global Group in a report on Friday, March 1st. They issued a "peer perform" rating for the company. Finally, Truist Financial reaffirmed a "hold" rating and issued a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $72.00.

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.