Victory Capital Management Inc. has recently come into possession of 1,196,212 shares of Ball Co. (NYSE:BALL), with an estimated value of $69,660,000. Reports show that as of its last SEC filing, the institutional investor owned 0.38% of Ball. This recent transaction was disclosed in the most recent 13F filing submitted to the Securities and Exchange Commission (SEC) by Victory Capital Management Inc.
Ball Corporation specializes in providing metal packaging products, catering to a diverse range of industries such as beverages, household items, and food-related products. The company operates through various business segments – Beverage Packaging North and Central America, Beverage Packaging South America, Beverage Packaging Europe, Middle East and Africa (EMEA), and Aerospace.
According to financial statements released by Ball Corp., the corporation raked in approximately $3.49 billion in revenue for Q1 2023. Although it is just below analysts’ expectation pegged at approximately $3.57 billion; it shows a significant improvement when compared to the same quarter last year.
With revenue down by 6.1%, Ball reported earnings per share (EPS) of $0.69 for Q1 2023; beating estimates which predicted that the company would record an EPS of $0.49 by a margin of $0.20.
Despite somewhat lackluster sales data from this year’s first quarter reports showing a less than impressive decrease in revenue from last year’s figures – investors remain optimistic about future prospects for the corporation.
Equities analysts predict that Ball Co.’s earning per share for this year will be around 3.06 earnings per share for FY23 – making them one stock worth keeping an eye on given their potential for growth moving forward into next year and beyond.
In summary, while there might be some factors causing disquiet with regard to Ball Corp.’s performance so far this fiscal period; there is also plenty of reason for investors to remain optimistic about the company’s prospects; particularly given its position in the market as a provider of metal packaging solutions, which is sure to continue being a valuable and necessary commodity for various businesses across multiple industries.
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Ball Corp: Leading the Way in Sustainable Metal Packaging for Beverages and Foods
Ball Corp: A Leading Provider of Sustainable Metal Packaging for Beverages and Foods
Ball Corp, a leading provider of metal packaging solutions for beverages, foods, and household products, has seen significant changes in its institutional holdings recently. Vanguard Group held a stake worth $1.7 billion in shares of Ball while BlackRock acquired a new position valued at approximately $1.15 billion.
Parnassus Investments LLC increased its holdings in shares of Ball by 11.4% during the last quarter and now owns 17,325,411 shares valued at $886,022,000. State Street Corp bought a new stake in Ball during the 3rd quarter valued at approximately $666,807,000 while Price T Rowe Associates Inc. MD purchased a new stake in Ball on the same day valued at about $419,203,000.
Institutional investors and hedge funds now own 82.65% of the company’s stock.
With NYSE:BALL opening at $55.75 on May 17th and with a market cap of $17.54 billion as on this date (May 17th), Ball Co has been offering innovative sustainable packaging solutions to reduce plastic wastes created by industries.
The company divides itself into four business segments: Beverage Packaging North and Central America; Beverage Packaging South America; Beverage Packaging Europe, Middle East and Africa (EMEA); and Aerospace.
The Beverage Packaging North and Central America segment includes multi-year supply contracts to fillers of carbonated soft drinks, beer, energy drinks, and other beverages ensuring eco-friendly packaging from source to destination.
Recent highlights include the declaration of a quarterly dividend paying shareholders an annual rate of $0.80 per share yielding approximately 1.43% relatively stable vis-à-vis the prior year’s dividend payout ratio (DPR) which was 56%.Besides this news,a research report by Bloomberg.com indicates that there is not much volatility in Ball Corp’s stocks with an average consensus price target of approximately $56.67.
While Wells Fargo & Company raised their price target to $51.00 and issued an “underweight” rating on February 3rd, JPMorgan Chase & Co. raised Ball’s price target from $55 to $61 per share on February 7th.
Moreover, Mizuho also upped BALL’s price target slightly from $58 to $59 on April 18th and Truist Financial reiterated a hold rating at a target price of $58 per share last month.
Thus, Ball Corp remains a long-standing provider of sustainable metal packaging solutions for environmentally-conscious industries as the changing institutional holdings maintains investor interest in the company’s growth potential and innovation.
