Berry Global Group, Inc. (NYSE:BERY) Short Interest Up 11.9% in August

Berry Global Group, Inc. (NYSE:BERY) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 5,270,000 shares, a growth of 11.9% from the August 15th total of 4,710,000 shares. Based on an average trading volume of 945,900 shares, the short-interest ratio is currently 5.6 days. Currently, 4.6% of the shares of the stock are short sold.

Institutional Trading of Berry Global Group

Institutional investors have recently modified their holdings of the business. FORA Capital LLC acquired a new position in Berry Global Group during the 1st quarter worth about $1,492,000. Thompson Investment Management Inc. raised its position in shares of Berry Global Group by 74.0% during the first quarter. Thompson Investment Management Inc. now owns 109,047 shares of the industrial products company’s stock worth $6,595,000 after acquiring an additional 46,379 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Berry Global Group by 8.3% in the first quarter. Sei Investments Co. now owns 161,605 shares of the industrial products company’s stock worth $9,774,000 after acquiring an additional 12,385 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Berry Global Group by 11.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 131,860 shares of the industrial products company’s stock worth $7,767,000 after acquiring an additional 13,398 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Berry Global Group by 33.8% in the first quarter. Russell Investments Group Ltd. now owns 37,552 shares of the industrial products company’s stock valued at $2,271,000 after acquiring an additional 9,483 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Trading Up 3.1 %

Berry Global Group stock traded up $2.05 during trading hours on Monday, hitting $67.58. The stock had a trading volume of 703,839 shares, compared to its average volume of 1,031,153. The business’s 50 day simple moving average is $64.59 and its 200-day simple moving average is $61.10. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.16 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The firm’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts predict that Berry Global Group will post 7.6 EPS for the current fiscal year.

Berry Global Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.63%. Berry Global Group’s dividend payout ratio (DPR) is presently 26.13%.

Analyst Ratings Changes

BERY has been the subject of several research analyst reports. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Morgan Stanley initiated coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Berry Global Group currently has a consensus rating of “Hold” and an average price target of $71.82.

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.