Berry Global Group, Inc. (NYSE:BERY – Get Free Report) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors 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 yield of 1.85%. The ex-dividend date 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 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 Trading Down 2.9 %
Shares of Berry Global Group stock traded down $1.78 during trading hours on Thursday, hitting $59.48. The company’s stock had a trading volume of 1,498,484 shares, compared to its average volume of 1,124,274. The business has a fifty day moving average of $58.73 and a 200 day moving average of $61.55. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93. The company has a quick ratio of 0.95, a current ratio of 1.67 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $6.89 billion, a PE ratio of 13.17, a P/E/G ratio of 0.80 and a beta of 1.24.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on BERY shares. Mizuho dropped their price objective on shares of Berry Global Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Truist Financial reiterated a “hold” rating and issued a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down previously from $72.00) on shares of Berry Global Group in a research note on Friday, March 15th. Finally, TheStreet cut Berry Global Group from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.00.
Check Out Our Latest Stock Analysis on BERY
Insider Transactions at Berry Global Group
In related news, Director Jonathan F. Foster acquired 1,000 shares of Berry Global Group stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $58.49 per share, with a total value of $58,490.00. Following the purchase, the director now directly owns 5,728 shares in the company, valued at approximately $335,030.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.
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.
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