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

Berry Global Group, Inc. (NYSE:BERY) was the recipient of a large decrease in short interest in 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. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group cut Berry Global Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $75.00 in a research note on Friday, November 22nd. Citigroup reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. Barclays boosted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. StockNews.com assumed coverage on shares of Berry Global Group in a report on Wednesday, December 11th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $76.00 price objective (up from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.73.

Berry Global Group Stock Performance

NYSE BERY opened at $66.66 on Wednesday. The firm has a market capitalization of $7.68 billion, a P/E ratio of 15.18, a PEG ratio of 1.38 and a beta of 1.14. The stock has a 50-day simple moving average of $69.07 and a two-hundred day simple moving average of $65.63. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31.

Berry Global Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.31 per share. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28. 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 1.86%. Berry Global Group’s dividend payout ratio (DPR) is presently 28.25%.

Insider Transactions at Berry Global Group

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EdgePoint Investment Group Inc. lifted its position in shares of Berry Global Group by 10.3% during the 2nd 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 in the last quarter. FMR LLC lifted its holdings in Berry Global Group by 38.4% during the third quarter. FMR LLC now owns 3,807,317 shares of the industrial products company’s stock valued at $258,821,000 after purchasing an additional 1,055,756 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Berry Global Group by 30.3% during the second 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Berry Global Group by 280.1% in the second 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 during the period. Finally, Eminence Capital LP increased its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.

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.