Ardagh Metal Packaging S.A. (NYSE:AMBP) Stock Holdings Trimmed by King Street Capital Management L.P.

King Street Capital Management L.P. lowered its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 77.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,000,000 shares of the company’s stock after selling 3,350,000 shares during the period. Ardagh Metal Packaging comprises about 2.5% of King Street Capital Management L.P.’s holdings, making the stock its 9th largest holding. King Street Capital Management L.P. owned approximately 0.17% of Ardagh Metal Packaging worth $3,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Ardagh Metal Packaging by 11.1% during the 1st quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company’s stock valued at $3,655,000 after purchasing an additional 106,206 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ardagh Metal Packaging by 48.7% during the second quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock valued at $4,505,000 after buying an additional 433,700 shares during the period. AQR Capital Management LLC grew its stake in shares of Ardagh Metal Packaging by 422.4% during the second quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock valued at $1,085,000 after buying an additional 258,067 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Ardagh Metal Packaging by 23.1% in the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after buying an additional 3,515 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of Ardagh Metal Packaging by 15,834.1% in the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after buying an additional 5,072,769 shares during the period. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ardagh Metal Packaging Trading Up 0.6 %

Shares of NYSE AMBP opened at $3.47 on Wednesday. The firm’s 50 day moving average price is $3.74 and its 200-day moving average price is $3.65. Ardagh Metal Packaging S.A. has a 52-week low of $3.16 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. The company has a market cap of $2.07 billion, a PE ratio of -28.92, a P/E/G ratio of 0.84 and a beta of 0.61.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $0.06 EPS. Ardagh Metal Packaging’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts expect that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 11.53%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is presently -333.33%.

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.