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

Berry Global Group, Inc. (NYSE:BERY) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of 0.275 per share by the industrial products company on Tuesday, September 17th. This represents a $1.10 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Berry Global Group has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Berry Global Group to earn $8.21 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 traded down $3.75 during trading on Friday, hitting $61.90. 1,092,882 shares of the company were exchanged, compared to its average volume of 1,083,309. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.33 and a beta of 1.16. Berry Global Group has a 1 year low of $53.92 and a 1 year high of $69.93. The firm’s fifty day moving average price is $60.95 and its 200 day moving average price is $60.44. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.74 and a quick ratio of 1.01.

Berry Global Group (NYSE:BERY) last issued its earnings results on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.90 by $0.05. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. On average, sell-side analysts expect that Berry Global Group will post 7.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BERY. StockNews.com raised shares of Berry Global Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. UBS Group cut their target price on shares of Berry Global Group from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Bank of America upped their price objective on shares of Berry Global Group from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $65.00 price objective (down previously from $68.00) on shares of Berry Global Group in a research note on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Berry Global Group currently has a consensus rating of “Moderate Buy” and an average price target of $71.40.

Insider Buying and Selling

In related news, CFO Mark W. Miles sold 1,118 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total transaction of $67,404.22. Following the transaction, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Berry Global Group news, CFO Mark W. Miles sold 1,118 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total value of $67,404.22. Following the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter T. Thomas bought 1,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the purchase, the director now directly owns 4,407 shares of the company’s stock, valued at approximately $262,216.50. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by company 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.