Hsbc Holdings PLC Reduces Stock Position in Ball Corporation $BALL

Key Points

• HSBC Holdings PLC reduced its stake in Ball Corporation by 13.3% in the first quarter, selling 258,661 shares and ending with 1,687,557 shares valued at about $99.5 million.
• Analysts remain generally positive on Ball, with several firms raising price targets and the stock currently holding a Moderate Buy consensus rating and average target price of $70.85.
• Ball reported better-than-expected earnings and revenue for the latest quarter, and it also paid a quarterly dividend of $0.20 per share, equal to a 1.3% annualized yield.

Hsbc Holdings PLC cut its holdings in Ball Corporation (NYSE:BALL - Free Report) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,687,557 shares of the company's stock after selling 258,661 shares during the period. Hsbc Holdings PLC owned about 0.63% of Ball worth $99,494,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Meridian Wealth Management LLC grew its position in Ball by 2.7% in the fourth quarter. Meridian Wealth Management LLC now owns 6,295 shares of the company's stock worth $333,000 after acquiring an additional 165 shares in the last quarter. Western Wealth Management LLC raised its position in Ball by 3.2% during the fourth quarter. Western Wealth Management LLC now owns 6,752 shares of the company's stock valued at $358,000 after purchasing an additional 208 shares during the period. Harbour Investments Inc. lifted its stake in shares of Ball by 44.1% in the 4th quarter. Harbour Investments Inc. now owns 725 shares of the company's stock valued at $38,000 after purchasing an additional 222 shares during the last quarter. Patton Fund Management Inc. lifted its stake in shares of Ball by 5.7% in the 4th quarter. Patton Fund Management Inc. now owns 4,604 shares of the company's stock valued at $244,000 after purchasing an additional 248 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Ball by 26.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,529 shares of the company's stock worth $81,000 after purchasing an additional 319 shares during the period. 86.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada boosted their target price on Ball from $75.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. upgraded Ball from a "neutral" rating to an "overweight" rating and set a $60.00 price target for the company in a research report on Monday, May 18th. Raymond James Financial set a $73.00 price objective on shares of Ball and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Wells Fargo & Company boosted their price objective on shares of Ball from $70.00 to $71.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Finally, UBS Group reduced their target price on shares of Ball from $66.00 to $64.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.85.

Ball Stock Up 0.0%

Shares of NYSE:BALL opened at $62.74 on Monday. The firm has a market capitalization of $16.70 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.98. The business has a 50 day simple moving average of $58.14 and a two-hundred day simple moving average of $59.82. Ball Corporation has a 1 year low of $44.83 and a 1 year high of $68.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.12 and a quick ratio of 0.72.

Ball (NYSE:BALL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.09. Ball had a return on equity of 18.69% and a net margin of 6.86%.The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The company's revenue for the quarter was up 16.3% on a year-over-year basis. Ball has set its FY 2026 guidance at 3.930- EPS. On average, equities analysts predict that Ball Corporation will post 3.99 EPS for the current year.

Ball Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.20 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. Ball's dividend payout ratio (DPR) is presently 23.12%.

Ball Profile

Ball Corporation is a leading provider of sustainable aluminum packaging solutions and advanced aerospace technologies. Headquartered in Broomfield, Colorado, the company serves customers in the beverage, food and aerosol markets through a global network of manufacturing facilities. With an emphasis on sustainability and innovation, Ball designs and produces metal cans, bottles and ends that support recycling and reduce environmental impact.

The company's packaging segment specializes in beverage cans for soft drinks, beer and energy drinks, as well as metal packaging for food and personal care applications.

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