Berry Plastics Group (BERY) Declares $0.25 Dividend

Berry Plastics Group said on January 31, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.25 per share.

At the current share price of $61.69 / share, the stock's dividend yield is 1.62%. Looking back five years and taking a sample every week, the average dividend yield has been 1.69%, the lowest has been 1.63%, and the highest has been 1.85%. The standard deviation of yields is 0.08 (n=8).

The current dividend yield is 0.98 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

Analyst Price Forecast Suggests 13.36% Upside

As of February 2, 2023, the average one-year price target for Berry Plastics Group is $69.93. The forecasts range from a low of $60.60 to a high of $81.90. The average price target represents an increase of 13.36% from its latest reported closing price of $61.69.

The projected annual revenue for Berry Plastics Group is $14,071MM, a decrease of 2.93%. The projected annual EPS is $7.67, an increase of 30.81%.

Fund Sentiment

There are 720 funds or institutions reporting positions in Berry Plastics Group. This is an increase of 14 owner(s) or 1.98%.

Average portfolio weight of all funds dedicated to US:BERY is 0.3933%, a decrease of 7.3338%. Total shares owned by institutions decreased in the last three months by 4.22% to 134,068K shares.

What are large shareholders doing?

EdgePoint Investment Group holds 13,905,037 shares representing 11.41% ownership of the company. In it's prior filing, the firm reported owning 16,078,878 shares, representing a decrease of 15.63%. The firm decreased its portfolio allocation in BERY by 7.76% over the last quarter.

Turtle Creek Asset Management holds 6,519,010 shares representing 5.35% ownership of the company. In it's prior filing, the firm reported owning 6,521,910 shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in BERY by 8.85% over the last quarter.

Lsv Asset Management holds 4,522,665 shares representing 3.71% ownership of the company. In it's prior filing, the firm reported owning 4,422,284 shares, representing an increase of 2.22%. The firm decreased its portfolio allocation in BERY by 5.37% over the last quarter.

Fuller & Thaler Asset Management holds 4,471,540 shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 4,155,422 shares, representing an increase of 7.07%. The firm decreased its portfolio allocation in BERY by 4.17% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,725,387 shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 3,834,877 shares, representing a decrease of 2.94%. The firm decreased its portfolio allocation in BERY by 13.77% over the last quarter.

Berry Global Group Background Information
(This description is provided by the company.)

Berry Global Group, Inc. creates innovative packaging and engineered products that it believes make life better for people and the planet. The Company does this every day by leveraging its unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in its diversity and industry leading talent of 47,000 global employees across more than 295 locations, it partners with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges its solve and the innovations its pioneer benefit its customers at every stage of their journey.

This story originally appeared on Fintel.