Berry Global Group, Inc. (NYSE:BERY) Short Interest Down 9.0% in December

Berry Global Group, Inc. (NYSE:BERY) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 3,560,000 shares, a decrease of 9.0% from the November 30th total of 3,910,000 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 1,400,000 shares, the short-interest ratio is currently 2.5 days.

Insider Transactions at Berry Global Group

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

Institutional Trading of Berry Global Group

A number of large investors have recently made changes to their positions in BERY. Franklin Resources Inc. increased its position in shares of Berry Global Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 313,329 shares of the industrial products company’s stock valued at $21,711,000 after purchasing an additional 3,744 shares during the last quarter. Tidal Investments LLC boosted its stake in Berry Global Group by 71.0% during the third quarter. Tidal Investments LLC now owns 31,325 shares of the industrial products company’s stock worth $2,129,000 after buying an additional 13,004 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Berry Global Group during the third quarter valued at $463,000. Sanctuary Advisors LLC purchased a new stake in shares of Berry Global Group in the third quarter valued at $389,000. Finally, Hohimer Wealth Management LLC bought a new stake in shares of Berry Global Group in the 3rd quarter worth about $367,000. 95.36% of the stock is currently owned by institutional investors.

Berry Global Group Price Performance

Shares of NYSE BERY traded up $0.47 during midday trading on Wednesday, reaching $64.67. 527,425 shares of the stock traded hands, compared to its average volume of 1,119,036. The company’s 50 day moving average is $68.16 and its 200 day moving average is $66.00. Berry Global Group has a one year low of $54.06 and a one year high of $73.31. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 0.80. The stock has a market capitalization of $7.45 billion, a PE ratio of 14.73, a P/E/G ratio of 1.38 and a beta of 1.14.

Berry Global Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.31 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.24 annualized dividend and a yield of 1.92%. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28. Berry Global Group’s dividend payout ratio (DPR) is 28.25%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BERY shares. Barclays lifted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. UBS Group lowered Berry Global Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $75.00 in a research note on Friday, November 22nd. Truist Financial reiterated a “hold” rating and set a $72.00 target price (down previously from $74.00) on shares of Berry Global Group in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on Berry Global Group from $69.00 to $73.00 and gave the stock a “sector perform” rating in a report on Thursday, November 21st. Finally, StockNews.com initiated coverage on shares of Berry Global Group in a report on Friday, December 27th. They set a “buy” rating for the company. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.40.

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.