Berry Global Group, Inc. (BERY) to Issue Quarterly Dividend of $0.31 on December 16th

Berry Global Group, Inc. (NYSE:BERY) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be given a dividend of 0.31 per share by the industrial products company on Monday, December 16th. This represents a $1.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, December 2nd. This is an increase from Berry Global Group’s previous quarterly dividend of $0.28.

Berry Global Group has a dividend payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Berry Global Group to earn $6.95 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 17.8%.

Berry Global Group Trading Up 1.1 %

NYSE BERY opened at $72.35 on Friday. The stock has a market cap of $8.29 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14. Berry Global Group has a fifty-two week low of $54.06 and a fifty-two week high of $73.31. The stock has a 50 day simple moving average of $68.62 and a two-hundred day simple moving average of $64.79. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.26 and a current ratio of 1.25.

Analyst Ratings Changes

BERY has been the subject of a number of research analyst reports. 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 price target for the company. Citigroup reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Berry Global Group in a research report on Monday, November 25th. Barclays lifted their target price on shares of Berry Global Group from $64.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday. Truist Financial reissued a “hold” rating and issued a $72.00 price target (down from $74.00) on shares of Berry Global Group in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Berry Global Group presently has an average rating of “Hold” and an average price target of $73.73.

Insider Buying and Selling

In related news, Director Evan Bayh sold 14,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $70.13, for a total transaction of $981,820.00. Following the sale, the director now directly owns 30,228 shares of the company’s stock, valued at approximately $2,119,889.64. This represents a 31.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.

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.