Berry Global Group, Inc. (NYSE:BERY) to Issue Quarterly Dividend of $0.28

Berry Global Group, Inc. (NYSE:BERY) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.275 per share by the industrial products company on Monday, June 17th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, June 3rd.

Berry Global Group has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Berry Global Group to earn $8.23 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 13.4%.

Berry Global Group Stock Performance

BERY traded down $1.78 during midday trading on Thursday, reaching $59.48. The company’s stock had a trading volume of 1,498,484 shares, compared to its average volume of 1,124,274. Berry Global Group has a twelve month low of $53.92 and a twelve month high of $69.93. The stock has a market cap of $6.89 billion, a P/E ratio of 13.17, a PEG ratio of 0.80 and a beta of 1.24. The company has a fifty day simple moving average of $58.73 and a 200 day simple moving average of $61.55. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62.

Berry Global Group (NYSE:BERY) last released its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.07). The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.99 billion. Berry Global Group had a net margin of 4.51% and a return on equity of 26.79%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Research analysts expect that Berry Global Group will post 7.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research initiated coverage on Berry Global Group in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. UBS Group upped their price target on shares of Berry Global Group from $76.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Barclays lowered their price target on shares of Berry Global Group from $67.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a report on Monday, February 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 target price (down previously from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Berry Global Group presently has a consensus rating of “Hold” and a consensus target price of $72.00.

Insider Activity at Berry Global Group

In other Berry Global Group news, Director Jonathan F. Foster purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was bought at an average cost of $58.49 per share, with a total value of $58,490.00. Following the completion of the transaction, the director now owns 5,728 shares of the company’s stock, valued at approximately $335,030.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is owned by insiders.

Berry Global Group Company Profile

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.