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Fintel reports that on March 1, 2024, Wolfe Research initiated coverage of Ball (NYSE:BALL) with a Peer Perform recommendation.

Analyst Price Forecast Suggests 0.43% Downside

As of February 24, 2024, the average one-year price target for Ball is 64.00. The forecasts range from a low of 50.50 to a high of $77.70. The average price target represents a decrease of 0.43% from its latest reported closing price of 64.28.

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The projected annual revenue for Ball is 16,536MM, an increase of 17.87%. The projected annual non-GAAP EPS is 3.84.

Ball Declares $0.20 Dividend

On January 24, 2024 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of March 1, 2024 will receive the payment on March 15, 2024. Previously, the company paid $0.20 per share.

At the current share price of $64.28 / share, the stock's dividend yield is 1.24%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.03%, the lowest has been 0.62%, and the highest has been 1.87%. The standard deviation of yields is 0.32 (n=233).

The current dividend yield is 0.67 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1397 funds or institutions reporting positions in Ball. This is an increase of 26 owner(s) or 1.90% in the last quarter. Average portfolio weight of all funds dedicated to BALL is 0.23%, a decrease of 5.27%. Total shares owned by institutions increased in the last three months by 1.77% to 328,092K shares. The put/call ratio of BALL is 1.14, indicating a bearish outlook.

What are Other Shareholders Doing?

Parnassus Investments holds 21,063K shares representing 6.67% ownership of the company. In it's prior filing, the firm reported owning 20,064K shares, representing an increase of 4.74%. The firm increased its portfolio allocation in BALL by 10.13% over the last quarter.

T. Rowe Price Investment Management holds 18,348K shares representing 5.81% ownership of the company. In it's prior filing, the firm reported owning 17,813K shares, representing an increase of 2.91%. The firm increased its portfolio allocation in BALL by 9.47% over the last quarter.

PRBLX - Parnassus Core Equity Fund Investor Shares holds 12,342K shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 11,533K shares, representing an increase of 6.56%. The firm increased its portfolio allocation in BALL by 13.57% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,822K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 9,810K shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in BALL by 11.13% over the last quarter.

RPMGX - T. Rowe Price Mid-Cap Growth Fund holds 8,979K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 8,750K shares, representing an increase of 2.55%. The firm increased its portfolio allocation in BALL by 9.92% over the last quarter.

Ball Background Information
(This description is provided by the company.)

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 21,500 people worldwide and reported 2020 net sales of $11.8 billion.

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