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

Shares of Berry Global Group stock traded down $0.94 during 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. The firm has a market capitalization of $6.87 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The firm’s fifty day simple moving average is $50.72. The company has a debt-to-equity ratio of 3.72, a quick ratio of 1.19 and a current ratio of 2.01. Berry Global Group has a fifty-two week low of $40.50 and a fifty-two week high of $59.16.

Berry Global Group (NYSE:BERY) last issued 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). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.04 billion. Berry Global Group had a net margin of 5.03% and a return on equity of 32.42%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. On average, equities analysts forecast that Berry Global Group will post 3.52 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Ingalls & Snyder LLC boosted its holdings in shares of Berry Global Group by 3.4% in the second quarter. Ingalls & Snyder LLC now owns 13,845 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 450 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Berry Global Group by 49.8% in the second quarter. WINTON GROUP Ltd now owns 21,148 shares of the industrial products company’s stock valued at $1,112,000 after acquiring an additional 7,026 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Berry Global Group by 241.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 493,128 shares of the industrial products company’s stock valued at $26,565,000 after acquiring an additional 348,837 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Berry Global Group by 932.8% in the first quarter. Advisory Services Network LLC now owns 3,243 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 2,929 shares in the last quarter. Finally, Cerebellum GP LLC boosted its holdings in shares of Berry Global Group by 71.5% in the first quarter. Cerebellum GP LLC now owns 6,182 shares of the industrial products company’s stock valued at $333,000 after acquiring an additional 2,578 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

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

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.

Further Reading: Institutional Investors

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