Berry Global Group, Inc. (NYSE:BERY) Sees Large Drop in Short Interest

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

Analysts Set New Price Targets

BERY has been the subject of several recent research reports. UBS Group increased their target price on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Robert W. Baird restated a “neutral” rating and set a $65.00 target price (down previously from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. StockNews.com cut shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Wolfe Research began coverage on shares of Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Mizuho cut their price target on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.00.

Berry Global Group Stock Performance

NYSE BERY opened at $57.79 on Thursday. The firm has a 50-day moving average of $58.63 and a 200-day moving average of $61.44. 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 stock has a market cap of $6.70 billion, a PE ratio of 12.43, a P/E/G ratio of 0.77 and a beta of 1.24. Berry Global Group has a 52-week low of $53.83 and a 52-week high of $69.93.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.99 billion. Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. On average, sell-side analysts anticipate that Berry Global Group will post 7.38 EPS for the current year.

Insider Transactions at Berry Global Group

In related news, Director Jonathan F. Foster acquired 1,000 shares of the stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jonathan F. Foster acquired 1,000 shares of the stock in a transaction dated Monday, February 12th. The stock was bought at an average price of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter T. Thomas bought 2,000 shares of Berry Global Group stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $56.00 per share, with a total value of $112,000.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $112,000. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Berry Global Group

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in shares of Berry Global Group in the 4th quarter valued at approximately $31,000. First Horizon Advisors Inc. boosted its stake in shares of Berry Global Group by 69.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 546 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 224 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Berry Global Group by 203.7% in the 4th quarter. Blue Trust Inc. now owns 650 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 436 shares in the last quarter. Quarry LP boosted its stake in shares of Berry Global Group by 433.1% in the 4th quarter. Quarry LP now owns 757 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 615 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Berry Global Group by 200.0% in the 4th quarter. CWM LLC now owns 1,575 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 1,050 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.