Citigroup Inc. Raises Stock Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Citigroup Inc. raised its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 15,834.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,104,806 shares of the company’s stock after buying an additional 5,072,769 shares during the quarter. Citigroup Inc.’s holdings in Ardagh Metal Packaging were worth $19,245,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMBP. Cornercap Investment Counsel Inc. purchased a new stake in Ardagh Metal Packaging in the third quarter worth about $273,000. Victory Capital Management Inc. grew its stake in shares of Ardagh Metal Packaging by 71.4% in the 3rd quarter. Victory Capital Management Inc. now owns 62,888 shares of the company’s stock worth $237,000 after buying an additional 26,198 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Ardagh Metal Packaging during the 3rd quarter valued at approximately $333,000. Janney Montgomery Scott LLC increased its position in Ardagh Metal Packaging by 0.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock valued at $2,420,000 after buying an additional 3,290 shares in the last quarter. Finally, US Bancorp DE raised its stake in Ardagh Metal Packaging by 17.8% during the third quarter. US Bancorp DE now owns 39,978 shares of the company’s stock valued at $151,000 after buying an additional 6,031 shares during the last quarter. Institutional investors own 16.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMBP shares. Citigroup raised their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and raised their price objective for the company from $3.80 to $5.10 in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $4.25 to $5.00 in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Ardagh Metal Packaging has a consensus rating of “Hold” and a consensus target price of $4.08.

Ardagh Metal Packaging Price Performance

AMBP opened at $3.70 on Wednesday. The company’s 50-day simple moving average is $3.76 and its two-hundred day simple moving average is $3.68. The company has a debt-to-equity ratio of 124.21, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $2.21 billion, a P/E ratio of -30.83, a P/E/G ratio of 0.92 and a beta of 0.62. Ardagh Metal Packaging S.A. has a 52-week low of $3.16 and a 52-week high of $4.26.

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

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 10.81%. The ex-dividend date is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -333.31%.

Ardagh Metal Packaging 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.