Berry Global Group, Inc. (BERY) To Go Ex-Dividend on June 3rd

Berry Global Group, Inc. (NYSE:BERY) 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.

Berry Global Group (NYSE:BERY) last posted its earnings results on Wednesday, February 7th. The industrial products company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.07). Berry Global Group had a return on equity of 26.79% and a net margin of 4.51%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company posted $1.30 EPS. Berry Global Group’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, analysts predict that Berry Global Group will post 7.38 earnings per share for the current fiscal year.

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.

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.