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

Berry Global Group, Inc. (NYSE:BERY - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Monday, March 3rd will be given a dividend of 0.31 per share by the industrial products company on Monday, March 17th. This represents a $1.24 dividend on an annualized basis 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. 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 traded down $0.31 during trading on Wednesday, reaching $68.37. 1,087,317 shares of the company traded hands, compared to its average volume of 1,184,251. Berry Global Group has a 12-month low of $54.06 and a 12-month high of $73.31. The firm has a fifty day simple moving average of $67.70 and a 200 day simple moving average of $67.00. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.80 and a current ratio of 1.25. The company has a market cap of $7.91 billion, a P/E ratio of 15.57, a PEG ratio of 1.44 and a beta of 1.16.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BERY shares. Royal Bank of Canada lifted their price objective on Berry Global Group from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Thursday, November 21st. Barclays increased their price target on Berry Global Group from $64.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday, November 27th. Citigroup reiterated a "neutral" rating and set a $76.00 price objective on shares of Berry Global Group in a research report on Monday, November 25th. UBS Group dropped their price target on shares of Berry Global Group from $75.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, Truist Financial increased 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 report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $73.30.

About Berry Global Group

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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