Berry Global Group, Inc. (NYSE:BERY) Declares Quarterly Dividend of $0.31

Berry Global Group, Inc. (NYSE:BERY) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 0.31 per share by the industrial products company on Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, December 2nd. This is a positive change from Berry Global Group’s previous quarterly dividend of $0.28.

Berry Global Group has a payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Berry Global Group to earn $8.19 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 Price Performance

Shares of NYSE BERY opened at $70.86 on Thursday. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.82 and a quick ratio of 1.08. The company has a market cap of $8.12 billion, a PE ratio of 15.11, a P/E/G ratio of 1.10 and a beta of 1.15. The stock has a fifty day moving average price of $67.72 and a 200 day moving average price of $63.08. Berry Global Group has a 1-year low of $54.06 and a 1-year high of $71.00.

Berry Global Group (NYSE:BERY) last issued its earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.16. Berry Global Group had a net margin of 4.55% and a return on equity of 27.32%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that Berry Global Group will post 7.6 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on BERY shares. Morgan Stanley began coverage on shares of Berry Global Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $76.00 target price on the stock. Truist Financial lifted their price target on shares of Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. UBS Group lowered their price target on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com raised Berry Global Group from a “hold” rating to a “buy” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus target price of $71.22.

Insider Buying and Selling at Berry Global Group

In other news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the completion of the sale, the director now directly owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.

About Berry Global Group

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.