Berry Global Group Inc (NYSE:BERY) Short Interest Update

Berry Global Group Inc (NYSE:BERY) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totalling 2,526,600 shares, a decrease of 6.9% from the May 30th total of 2,713,100 shares. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.9% of the company’s shares are short sold.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, July 8th. Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley set a $60.00 target price on shares of Berry Global Group and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $60.60.

A number of hedge funds have recently added to or reduced their stakes in BERY. Mark Sheptoff Financial Planning LLC increased its stake in shares of Berry Global Group by 66.7% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 500 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in shares of Berry Global Group during the 1st quarter worth $27,000. Private Capital Group LLC increased its stake in shares of Berry Global Group by 236.5% during the 1st quarter. Private Capital Group LLC now owns 1,033 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 726 shares during the last quarter. First Interstate Bank increased its stake in shares of Berry Global Group by 29.6% during the 1st quarter. First Interstate Bank now owns 1,509 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 345 shares during the last quarter. Finally, First Hawaiian Bank increased its stake in shares of Berry Global Group by 49.7% during the 1st quarter. First Hawaiian Bank now owns 2,522 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 837 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

BERY stock traded down $0.94 during midday trading on Monday, reaching $52.12. The company had a trading volume of 38,132 shares, compared to its average volume of 1,163,361. Berry Global Group has a 1 year low of $40.50 and a 1 year high of $59.16. The company has a debt-to-equity ratio of 3.72, a current ratio of 2.01 and a quick ratio of 1.19. The stock has a market capitalization of $6.87 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.51 and a beta of 1.20. The company’s 50 day moving average price is $50.72.

Berry Global Group (NYSE:BERY) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.14). Berry Global Group had a return on equity of 32.42% and a net margin of 5.03%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts predict that Berry Global Group will post 3.52 EPS for the current year.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. The Engineered Materials segment offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, flashing and seaming tapes, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films.

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