Berry Plastics Group said on May 2, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $56.23 / share, the stock's dividend yield is 1.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.94%, the lowest has been 1.37%, and the highest has been 3.71%. The standard deviation of yields is 0.36 (n=237).
The current dividend yield is 0.46 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.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 787 funds or institutions reporting positions in Berry Plastics Group. This is an increase of 66 owner(s) or 9.15% in the last quarter. Average portfolio weight of all funds dedicated to BERY is 0.39%, a decrease of 0.37%. Total shares owned by institutions decreased in the last three months by 1.40% to 132,184K shares. 
The put/call ratio of BERY is 1.75, indicating a bearish outlook.
Analyst Price Forecast Suggests 28.67% Upside
As of April 24, 2023, the average one-year price target for Berry Plastics Group is 72.35. The forecasts range from a low of 60.60 to a high of $79.80. The average price target represents an increase of 28.67% from its latest reported closing price of 56.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Berry Plastics Group is 14,071MM, an increase of 0.64%. The projected annual non-GAAP EPS is 7.67.
What are Other Shareholders Doing?
EdgePoint Investment Group holds 13,917K shares representing 11.46% ownership of the company. In it's prior filing, the firm reported owning 13,905K shares, representing an increase of 0.09%. The firm increased its portfolio allocation in BERY by 23.89% over the last quarter.
Turtle Creek Asset Management holds 6,231K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 6,519K shares, representing a decrease of 4.62%. The firm increased its portfolio allocation in BERY by 5.50% over the last quarter.
Fuller & Thaler Asset Management holds 4,545K shares representing 3.74% ownership of the company. In it's prior filing, the firm reported owning 4,472K shares, representing an increase of 1.62%. The firm increased its portfolio allocation in BERY by 16.43% over the last quarter.
Lsv Asset Management holds 4,367K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 4,342K shares, representing an increase of 0.57%. The firm decreased its portfolio allocation in BERY by 0.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,775K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 3,725K shares, representing an increase of 1.31%. The firm increased its portfolio allocation in BERY by 21.53% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
