Wellington Management Group LLP Acquires 67,285 Shares of Ball Corporation $BALL

Key Points

• Wellington Management Group LLP increased its stake in Ball Corporation by 5.4% during Q1, accumulating a total of 1,318,054 shares valued at approximately $68.6 million.
• Several brokerages have raised their price targets for Ball, with UBS Group setting their objective at $60.00 and Royal Bank of Canada at $70.00, while the consensus rating is currently "Hold" with an average target price of $65.27.
• Ball Corporation will pay a quarterly dividend of $0.20 per share on September 16th, 2023, representing an annualized yield of approximately 1.5%.

Wellington Management Group LLP grew its holdings in shares of Ball Corporation (NYSE:BALL - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,318,054 shares of the company's stock after acquiring an additional 67,285 shares during the period. Wellington Management Group LLP owned about 0.48% of Ball worth $68,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Ball by 12.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,718 shares of the company's stock valued at $2,044,000 after acquiring an additional 4,289 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Ball by 5.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 122,483 shares of the company's stock valued at $6,378,000 after purchasing an additional 5,841 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Ball by 12.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 55,997 shares of the company's stock valued at $2,916,000 after purchasing an additional 6,106 shares during the period. Russell Investments Group Ltd. raised its position in shares of Ball by 20.7% during the 1st quarter. Russell Investments Group Ltd. now owns 601,522 shares of the company's stock valued at $31,313,000 after purchasing an additional 103,022 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Ball during the 1st quarter valued at $307,000. Institutional investors own 86.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BALL. UBS Group raised their price objective on shares of Ball from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their price objective on shares of Ball from $50.00 to $54.00 and gave the company an "underweight" rating in a research report on Friday, July 18th. Royal Bank Of Canada raised their price objective on shares of Ball from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Bank of America restated a "neutral" rating and set a $66.00 price objective (down from $67.00) on shares of Ball in a research report on Wednesday, July 9th. Finally, Loop Capital cut their target price on shares of Ball from $83.00 to $78.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $65.27.

Ball Stock Performance

BALL opened at $53.7030 on Friday. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.20 and a beta of 1.08. The company has a fifty day moving average of $56.56 and a 200 day moving average of $53.07. Ball Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $68.12. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.67 and a current ratio of 1.00.

Ball (NYSE:BALL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $3.34 billion during the quarter, compared to analysts' expectations of $3.10 billion. Ball had a net margin of 4.49% and a return on equity of 16.81%. Ball's quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. Ball has set its FY 2025 guidance at 3.550-3.650 EPS. As a group, sell-side analysts forecast that Ball Corporation will post 3.48 earnings per share for the current fiscal year.

Ball Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Ball's dividend payout ratio (DPR) is presently 41.45%.

Ball Profile

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.

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