IFP Advisors Inc lessened its position in shares of Ball Co. (NYSE:BALL – Free Report) by 89.8% during the first quarter, Holdings Channel reports. The institutional investor owned 3,617 shares of the company’s stock after selling 31,730 shares during the quarter. IFP Advisors Inc’s holdings in Ball were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in BALL. Vanguard Group Inc. purchased a new position in shares of Ball during the 3rd quarter valued at $1,695,575,000. State Street Corp bought a new stake in shares of Ball during the 3rd quarter valued at $666,807,000. Jensen Investment Management Inc. bought a new stake in shares of Ball during the 4th quarter valued at $159,195,000. Norges Bank bought a new stake in shares of Ball during the 4th quarter valued at $139,189,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Ball during the 3rd quarter valued at $122,185,000. Hedge funds and other institutional investors own 86.04% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Wells Fargo & Company upgraded Ball from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $52.00 to $55.00 in a research note on Tuesday, June 20th. Mizuho boosted their price objective on Ball from $58.00 to $59.00 in a research note on Tuesday, April 18th. Finally, Truist Financial reiterated a “hold” rating and set a $58.00 price objective on shares of Ball in a research note on Wednesday, April 12th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Ball presently has a consensus rating of “Hold” and an average price target of $56.93.
Ball Price Performance
Ball (NYSE:BALL – Free Report) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.49 by $0.20. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.57 billion. Ball had a return on equity of 23.92% and a net margin of 2.98%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 EPS. Sell-side analysts forecast that Ball Co. will post 3.05 EPS for the current fiscal year.
Ball Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, May 31st. Ball’s dividend payout ratio is currently 56.34%.
Ball Company Profile
Ball Corp. provides metal packaging for beverages, foods, and household products. It operates through the following business segments: Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace. The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.
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