Geode Capital Management LLC Buys 11,963 Shares of Ardagh Metal Packaging S.A. (NYSE:AMBP)

Geode Capital Management LLC boosted its position in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,784,882 shares of the company’s stock after purchasing an additional 11,963 shares during the period. Geode Capital Management LLC owned approximately 0.30% of Ardagh Metal Packaging worth $6,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMBP. Bank of New York Mellon Corp lifted its holdings in Ardagh Metal Packaging by 58.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 493,197 shares of the company’s stock valued at $1,677,000 after buying an additional 182,906 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Ardagh Metal Packaging by 34.5% during the second quarter. Principal Financial Group Inc. now owns 19,521 shares of the company’s stock valued at $66,000 after acquiring an additional 5,009 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ardagh Metal Packaging by 11.5% in the second quarter. Rhumbline Advisers now owns 165,578 shares of the company’s stock valued at $563,000 after purchasing an additional 17,104 shares during the period. Oak Thistle LLC bought a new position in Ardagh Metal Packaging in the second quarter worth approximately $220,000. Finally, American Century Companies Inc. grew its stake in Ardagh Metal Packaging by 14.3% in the second quarter. American Century Companies Inc. now owns 215,156 shares of the company’s stock worth $732,000 after purchasing an additional 26,865 shares in the last quarter. 16.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMBP. Citigroup upped their target price on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $4.90 to $4.00 in a report on Wednesday, December 11th. Finally, Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Ardagh Metal Packaging currently has a consensus rating of “Hold” and an average target price of $3.92.

Ardagh Metal Packaging Price Performance

AMBP opened at $2.97 on Friday. Ardagh Metal Packaging S.A. has a 1 year low of $2.93 and a 1 year high of $4.26. The firm has a market capitalization of $1.77 billion, a PE ratio of -24.75, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The business’s 50-day moving average is $3.45 and its two-hundred day moving average is $3.55.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 13.47%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -333.31%.

About Ardagh Metal Packaging

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.