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

Berry Global Group, Inc. (NYSE:BERY) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders 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 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, June 3rd.

Berry Global Group has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 2.7 %

Berry Global Group stock traded down $1.64 during trading hours on Thursday, hitting $59.62. 1,666,088 shares of the stock traded hands, compared to its average volume of 1,125,797. The company has a current ratio of 1.67, a quick ratio of 0.95 and a debt-to-equity ratio of 2.62. The firm’s 50-day moving average price is $58.73 and its two-hundred day moving average price is $61.55. Berry Global Group has a one year low of $53.92 and a one year high of $69.93. The company has a market cap of $6.91 billion, a PE ratio of 13.17, a PEG ratio of 0.80 and a beta of 1.24.

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

Insider Buying and Selling

In related news, Director Jonathan F. Foster acquired 1,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was acquired at an average price of $58.49 per share, with a total value of $58,490.00. Following the acquisition, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BERY. StockNews.com lowered shares of Berry Global Group from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Robert W. Baird restated a “neutral” rating and issued a $65.00 price objective (down from $68.00) on shares of Berry Global Group in a report on Tuesday, April 16th. TheStreet lowered shares of Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Mizuho decreased their target price on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.00.

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.