Short Interest in Berry Global Group, Inc. (NYSE:BERY) Declines By 16.5%

Berry Global Group, Inc. (NYSE:BERYGet Rating) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 1,970,000 shares, a drop of 16.5% from the April 15th total of 2,360,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 1.9 days.

Large investors have recently modified their holdings of the business. Ellevest Inc. purchased a new position in Berry Global Group in the 1st quarter worth about $25,000. Van ECK Associates Corp bought a new stake in shares of Berry Global Group during the 4th quarter valued at about $26,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Berry Global Group during the 4th quarter valued at about $27,000. Dark Forest Capital Management LP bought a new stake in shares of Berry Global Group during the 3rd quarter valued at about $29,000. Finally, Vectors Research Management LLC bought a new stake in shares of Berry Global Group during the 4th quarter valued at about $34,000. 95.74% of the stock is owned by institutional investors and hedge funds.

BERY has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Berry Global Group from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a report on Tuesday, February 1st. Morgan Stanley raised their target price on shares of Berry Global Group from $71.00 to $79.00 and gave the stock an “equal weight” rating in a report on Thursday, January 20th. Robert W. Baird cut their price target on shares of Berry Global Group from $83.00 to $73.00 in a report on Friday, May 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Berry Global Group from $71.00 to $69.00 in a report on Monday, May 9th. Finally, StockNews.com began coverage on shares of Berry Global Group in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Berry Global Group has a consensus rating of “Buy” and a consensus target price of $77.18.

BERY opened at $53.94 on Tuesday. The stock has a 50-day moving average price of $57.47 and a 200-day moving average price of $63.92. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.76 and a quick ratio of 0.99. The firm has a market cap of $7.30 billion, a PE ratio of 9.97, a P/E/G ratio of 0.74 and a beta of 1.26. Berry Global Group has a 1 year low of $51.40 and a 1 year high of $74.73.

Berry Global Group (NYSE:BERYGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.70 billion. Berry Global Group had a return on equity of 29.03% and a net margin of 5.09%. Berry Global Group’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. As a group, sell-side analysts anticipate that Berry Global Group will post 7.27 EPS for the current year.

About Berry Global Group (Get Rating)

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments. The Consumer Packaging International segment offers closures and dispensing systems, pharmaceutical devices and packaging, bottles and canisters, containers, and technical components.

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