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Berry Global Group, Inc. (NYSE:BERY - Get Rating) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,720,000 shares, a decline of 9.9% from the August 31st total of 1,910,000 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is presently 1.6 days. Wall Street Analysts Forecast Growth
Several equities research analysts have commented on BERY shares. Mizuho lowered their price target on shares of Berry Global Group from $70.00 to $69.00 and set a "neutral" rating on the stock in a report on Thursday, August 4th. UBS Group lowered their price target on shares of Berry Global Group from $78.00 to $73.00 in a report on Wednesday, July 13th. Truist Financial lowered their price target on shares of Berry Global Group from $77.00 to $70.00 in a report on Thursday, August 4th. Credit Suisse Group raised shares of Berry Global Group from a "neutral" rating to an "outperform" rating and set a $78.00 price target on the stock in a report on Wednesday, July 20th. Finally, StockNews.com lowered shares of Berry Global Group from a "buy" rating to a "hold" rating in a report on Friday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Berry Global Group currently has a consensus rating of "Moderate Buy" and an average price target of $73.56.Berry Global Group Trading Down 0.6 %
Shares of Berry Global Group stock opened at $46.53 on Friday. The firm has a 50-day simple moving average of $54.85 and a two-hundred day simple moving average of $55.88. The company has a market cap of $6.30 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 0.63 and a beta of 1.19. Berry Global Group has a fifty-two week low of $45.52 and a fifty-two week high of $74.73. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.04 and a current ratio of 1.79.
Berry Global Group (NYSE:BERY - Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.09. Berry Global Group had a net margin of 5.16% and a return on equity of 29.95%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm posted $1.53 earnings per share. As a group, equities analysts predict that Berry Global Group will post 7.38 earnings per share for the current fiscal year. Insider Activity
In other news, CEO Tom Salmon sold 24,207 shares of the business's stock in a transaction on Friday, August 26th. The shares were sold at an average price of $16.00, for a total transaction of $387,312.00. Following the sale, the chief executive officer now directly owns 66,193 shares of the company's stock, valued at $1,059,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company's stock. Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Connable Office Inc. raised its position in shares of Berry Global Group by 3.0% during the 4th quarter. Connable Office Inc. now owns 5,671 shares of the industrial products company's stock worth $418,000 after purchasing an additional 166 shares during the last quarter. Synovus Financial Corp raised its position in shares of Berry Global Group by 1.4% during the 4th quarter. Synovus Financial Corp now owns 15,243 shares of the industrial products company's stock worth $1,124,000 after purchasing an additional 208 shares during the last quarter. Arizona State Retirement System raised its position in shares of Berry Global Group by 0.7% during the 1st quarter. Arizona State Retirement System now owns 36,655 shares of the industrial products company's stock worth $2,125,000 after purchasing an additional 239 shares during the last quarter. Greenleaf Trust raised its position in shares of Berry Global Group by 5.9% during the 2nd quarter. Greenleaf Trust now owns 4,454 shares of the industrial products company's stock worth $243,000 after purchasing an additional 247 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Berry Global Group by 19.6% during the 2nd quarter. American International Group Inc. now owns 1,690 shares of the industrial products company's stock worth $92,000 after purchasing an additional 277 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company's stock. Berry Global Group Company Profile (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.Further ReadingGet a free copy of the StockNews.com research report on Berry Global Group (BERY)EV Battery Maker Freyr Set For Major Global Expansion MarketBeat: Week in Review 9/26 – 9/30This Is A Memorable Time To Buy Into Micron TechnologyHow Does Keurig Dr Pepper Compare To Larger Rivals Coke & Pepsi?Declining Profits Challenge the CarMax Value Proposition
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