The Vanguard Group, Inc. recently announced the acquisition of new stake in Ball Corporation (NYSE:BALL). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.07% to 34.24 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 10.89% valued currently at $1.82 billion. In addition, Parnassus Investments LLC raised its holdings by 2.88 million to 20.2 million shares. And T. Rowe Price Investment Manageme has lifted its position by 0.04% or 6641.0 shares – to 15.15 million shares.
With over 1.68 million Ball Corporation (BALL) shares trading Tuesday and a closing price of $54.76 on the day, the dollar volume was approximately $91.74 million. The shares have shown a negative half year performance of -0.60% and its price on 05/23/23 gained nearly 0.96%. Currently, there are 314.24M common shares owned by the public and among those 311.88M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for BALL have a consensus price objective of $61.00. The analysts have set the share’s price value over the next 12 months at a high of $75.00 and a low of $52.00. The average price target is 9.49% above its recent price level and a downside to the estimated low will see the stock lose -5.31% over that period. But an upside of 26.99% will see the stock hit the forecast high price target while median target price for the stock is $61.00.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 281,113 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 306,746 shares.
The top 3 mutual fund holders in Ball Corporation are Parnassus Core Equity Fund, Vanguard Total Stock Market ETF, and T Rowe Price Mid Cap Growth Fund. Parnassus Core Equity Fund owns 11.81 million shares of the company’s stock, all valued at over $627.8 million. The company bought an additional 1.51 million shares recently to bring their total holdings to about 3.76% of the shares outstanding. Vanguard Total Stock Market ETF bought 70100.0 shares to see its total holdings expand to 9.73 million shares valued at over $517.55 million and representing 3.10% of the shares outstanding. T Rowe Price Mid Cap Growth Fund sold 9800.0 shares to bring its total holdings to over 7.47 million shares at a value of $397.4 million. T Rowe Price Mid Cap Growth Fund now owns shares totaling to 2.38% of the shares outstanding.
Shares of Ball Corporation (NYSE: BALL) opened at $54.07, down -$0.17 from a prior closing price of $54.24. However, the script later moved the day high at 55.25, up 0.96%. The company’s stock has a 5-day price change of -1.78% and -4.85% over the past three months. BALL shares are trading 7.08% year to date (YTD), with the 12-month market performance down to -20.61% lower. It has a 12-month low price of $46.00 and touched a high of $74.49 over the same period. BALL has an average intraday trading volume of 1.65 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.55%, 2.25%, and 0.89% respectively.
Institutional ownership of Ball Corporation (NYSE: BALL) shares accounts for 86.90% of the company’s 314.24M shares outstanding. Mutual fund holders own 5.46%, while other institutional holders and individual stakeholders account for 56.29% and 31.49% respectively.
It has a market capitalization of $17.37B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 38.56, while the earnings-per-share (ttm) stands at $1.42. The company has a PEG of 12.44 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 2.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.12% over the week and 2.59% over the month.
Analysts forecast that Ball Corporation (BALL) will achieve an EPS of $0.62 for the current quarter, $0.88 for the next quarter and $3.5 for 2024. The lowest estimate earnings-per-share for the quarter is $0.57 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.00%, and 13.87% over the next financial year. EPS should shrink at an annualized rate of 3.10% over the next five years, compared to 11.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Ball Corporation (BALL) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 11 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
