Berry Global Group, Inc. (NYSE:BERY) to Issue Quarterly Dividend of $0.31

Berry Global Group, Inc. (NYSE:BERY) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.31 per share by the industrial products company on Monday, March 17th. This represents a $1.24 annualized dividend and a yield of 1.81%.

Berry Global Group has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Berry Global Group to earn $6.92 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 17.9%.

Berry Global Group Price Performance

BERY stock opened at $68.37 on Thursday. Berry Global Group has a 52 week low of $54.06 and a 52 week high of $73.31. The firm has a market capitalization of $7.91 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The company has a fifty day simple moving average of $67.69 and a two-hundred day simple moving average of $67.01. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 2.08.

Analyst Upgrades and Downgrades

BERY has been the subject of several recent research reports. StockNews.com began coverage on Berry Global Group in a research report on Tuesday. They issued a “buy” rating for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $76.00 target price (up previously from $70.00) on shares of Berry Global Group in a report on Monday, November 25th. Citigroup restated a “neutral” rating and set a $76.00 price target on shares of Berry Global Group in a report on Monday, November 25th. Truist Financial lifted their price objective on shares of Berry Global Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Finally, UBS Group reduced their target price on shares of Berry Global Group from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.30.

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.