Berry Global Group, Inc. (NYSE:BERY) Announces Dividend Increase – $0.31 Per Share

by · The Markets Daily

Berry Global Group, Inc. (NYSE:BERY – Get Free Report) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.31 per share by the industrial products company on Monday, December 16th. This represents a $1.24 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Berry Global Group’s previous quarterly dividend of $0.28.

Berry Global Group has a 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 Stock Up 1.4 %

Shares of BERY opened at $70.73 on Thursday. The company has a market cap of $8.11 billion, a PE ratio of 15.11, a P/E/G ratio of 1.10 and a beta of 1.15. The business has a fifty day moving average of $67.72 and a 200 day moving average of $63.08. Berry Global Group has a 52-week low of $54.06 and a 52-week high of $70.91. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 2.57.

Berry Global Group (NYSE:BERY – Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.16. Berry Global Group had a return on equity of 27.32% and a net margin of 4.55%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the company earned $1.90 earnings per share. Berry Global Group’s revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts expect that Berry Global Group will post 7.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BERY. Morgan Stanley began coverage on Berry Global Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $76.00 target price on the stock. StockNews.com upgraded Berry Global Group from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group reduced their target price on Berry Global Group from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Truist Financial raised their price target on Berry Global Group from $68.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Berry Global Group presently has an average rating of “Hold” and a consensus target price of $71.22.

Check Out Our Latest Report on Berry Global Group

Insider Buying and Selling at Berry Global Group

In other Berry Global Group news, Director Evan Bayh sold 14,000 shares of Berry Global Group stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $70.13, for a total value of $981,820.00. Following the transaction, the director now owns 30,228 shares in the company, valued at $2,119,889.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is owned by insiders.

About Berry Global Group

(Get Free Report)

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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