King Street Capital Management L.P. Has $3.77 Million Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

King Street Capital Management L.P. reduced its position in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 77.0% in the third quarter, according to the company in its most recent 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 approximately 2.5% of King Street Capital Management L.P.'s holdings, making the stock its 9th largest position. 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 quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Ardagh Metal Packaging by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,784,882 shares of the company's stock worth $6,729,000 after purchasing an additional 11,963 shares during the last quarter. XTX Topco Ltd purchased a new position in Ardagh Metal Packaging in the 3rd quarter worth about $389,000. EP Wealth Advisors LLC lifted its stake in Ardagh Metal Packaging by 99.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 49,916 shares of the company's stock valued at $188,000 after acquiring an additional 24,832 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Ardagh Metal Packaging by 99.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 284,375 shares of the company's stock valued at $1,072,000 after acquiring an additional 141,850 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of Ardagh Metal Packaging in the third quarter worth approximately $124,000. 16.93% of the stock is owned by institutional investors.

Ardagh Metal Packaging Stock Performance

Shares of NYSE:AMBP traded down $0.28 during midday trading on Wednesday, hitting $3.20. The company had a trading volume of 2,928,946 shares, compared to its average volume of 1,361,380. Ardagh Metal Packaging S.A. has a 12-month low of $3.16 and a 12-month high of $4.26. The company has a fifty day moving average of $3.74 and a two-hundred day moving average of $3.65. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -27.00, a PEG ratio of 0.84 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.08 EPS 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 analysts' expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. The business's quarterly 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 12.52%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging's payout ratio is -333.33%.

Analyst Ratings Changes

AMBP has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Ardagh Metal Packaging from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $4.25 to $5.00 in a research report on Tuesday, October 15th. Citigroup increased 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. Finally, Bank of America lowered Ardagh Metal Packaging from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $4.90 to $4.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $3.92.

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.