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 paid 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 1.84%. 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 Price Performance
Berry Global Group stock traded down $1.49 during trading hours on Thursday, hitting $59.77. The stock had a trading volume of 2,160,542 shares, compared to its average volume of 1,131,962. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.67 and a quick ratio of 0.95. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.80 and a beta of 1.24. Berry Global Group has a 1-year low of $53.92 and a 1-year high of $69.93. The stock’s fifty day moving average is $58.73 and its two-hundred day moving average is $61.55.
Insiders Place Their Bets
In related news, Director Jonathan F. Foster purchased 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 completion of the transaction, the director now directly owns 5,728 shares of the company’s stock, valued at $335,030.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
BERY has been the topic of a number of analyst reports. StockNews.com downgraded shares of Berry Global Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. TheStreet downgraded Berry Global Group from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Truist Financial reaffirmed a “hold” rating and set a $68.00 price target (down previously from $75.00) on shares of Berry Global Group in a research note on Wednesday, March 27th. UBS Group boosted their target price on Berry Global Group from $76.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $62.00 target price (down from $72.00) on shares of Berry Global Group in a research report on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.00.
Read Our Latest Report on BERY
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.
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