Short Interest in Berry Global Group, Inc. (NYSE:BERY) Declines By 5.6%

Berry Global Group, Inc. (NYSE:BERY) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,910,000 shares, a decrease of 5.6% from the November 15th total of 4,140,000 shares. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is currently 3.0 days. Currently, 3.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 21st. Morgan Stanley started coverage on shares of Berry Global Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 price target for the company. Citigroup reissued a “neutral” rating and set a $76.00 price objective on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial restated a “hold” rating and set a $72.00 price objective (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Finally, Barclays increased their target price on Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.73.

Insiders Place Their Bets

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the transaction, the director now owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. The trade was a 31.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Berry Global Group

Several large investors have recently modified their holdings of BERY. EdgePoint Investment Group Inc. lifted its holdings in Berry Global Group by 10.3% in the second quarter. EdgePoint Investment Group Inc. now owns 14,942,921 shares of the industrial products company’s stock valued at $879,391,000 after buying an additional 1,393,955 shares during the period. FMR LLC raised its position in shares of Berry Global Group by 38.4% in the 3rd quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock worth $258,821,000 after acquiring an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Berry Global Group by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,472,624 shares of the industrial products company’s stock valued at $204,365,000 after purchasing an additional 807,211 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Berry Global Group by 280.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 798,092 shares of the industrial products company’s stock valued at $46,968,000 after purchasing an additional 588,114 shares in the last quarter. Finally, Eminence Capital LP grew its stake in Berry Global Group by 22.2% during the second quarter. Eminence Capital LP now owns 2,714,539 shares of the industrial products company’s stock worth $159,751,000 after purchasing an additional 492,793 shares during the period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Berry Global Group Price Performance

Shares of BERY opened at $67.61 on Tuesday. The business has a 50-day moving average of $69.07 and a 200-day moving average of $65.63. Berry Global Group has a 1 year low of $54.06 and a 1 year high of $73.31. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80.

Berry Global Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.31 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s payout ratio 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.