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

Berry Global Group, Inc. (NYSE:BERY) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Tuesday, September 3rd will be given a dividend of 0.275 per share by the industrial products company on Tuesday, September 17th. This represents a $1.10 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, September 3rd.

Berry Global Group has a dividend payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 BERY opened at $68.86 on Monday. The stock has a 50 day simple moving average of $63.07 and a 200 day simple moving average of $60.54. Berry Global Group has a 52-week low of $53.92 and a 52-week high of $69.93. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.08 and a current ratio of 1.82. The firm has a market capitalization of $7.89 billion, a PE ratio of 16.36, a P/E/G ratio of 1.36 and a beta of 1.17.

Berry Global Group (NYSE:BERY) last released its quarterly 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 company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company 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 predict that Berry Global Group will post 7.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BERY has been the subject of a number of research reports. StockNews.com downgraded Berry Global Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. UBS Group decreased 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 report on Wednesday, July 17th. Finally, Bank of America boosted their price target on shares of Berry Global Group from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.40.

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.