Fmr LLC Sells 88,153 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Fmr LLC reduced its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 45.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,866 shares of the company’s stock after selling 88,153 shares during the quarter. Fmr LLC’s holdings in Ardagh Metal Packaging were worth $392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. grew its holdings in shares of Ardagh Metal Packaging by 15,834.1% during the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock valued at $19,245,000 after buying an additional 5,072,769 shares during the last quarter. King Street Capital Management L.P. bought a new position in Ardagh Metal Packaging in the 2nd quarter valued at approximately $14,790,000. Squarepoint Ops LLC boosted its stake in Ardagh Metal Packaging by 523.8% during the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after purchasing an additional 2,446,997 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ardagh Metal Packaging by 48.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after purchasing an additional 433,700 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Ardagh Metal Packaging by 422.4% in the second quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock worth $1,085,000 after purchasing an additional 258,067 shares during the last quarter. 16.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMBP shares. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $4.90 to $4.00 in a research report on Wednesday, December 11th. Citigroup upped their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.92.

Ardagh Metal Packaging Trading Down 0.3 %

Shares of NYSE:AMBP opened at $3.03 on Friday. The stock’s 50-day simple moving average is $3.66 and its two-hundred day simple moving average is $3.61. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -25.25, a PEG ratio of 0.78 and a beta of 0.61. Ardagh Metal Packaging S.A. has a 52-week low of $2.98 and a 52-week high of $4.26. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17.

Ardagh Metal Packaging (NYSE:AMBP) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm posted $0.06 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current year.

Ardagh Metal Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 13.20%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is -333.33%.

Ardagh Metal Packaging Company Profile

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.