Swiss National Bank Lowers Stock Holdings in Amcor plc (NYSE:AMCR)

Swiss National Bank cut its holdings in shares of Amcor plc (NYSE:AMCR) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,522,992 shares of the company’s stock after selling 209,900 shares during the quarter. Swiss National Bank owned about 0.31% of Amcor worth $43,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its position in shares of Amcor by 1,619.5% in the third quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock worth $30,000 after acquiring an additional 3,077 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Amcor during the 3rd quarter valued at $38,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Amcor during the 4th quarter worth $40,000. Loomis Sayles & Co. L P boosted its holdings in Amcor by 48.2% in the third quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company’s stock valued at $41,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Amcor during the third quarter worth about $46,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their target price on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st.

Amcor Stock Up 0.8 %

Shares of Amcor stock opened at $10.09 on Tuesday. Amcor plc has a twelve month low of $8.45 and a twelve month high of $10.53. The stock has a market cap of $14.58 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average price of $9.24 and a 200 day moving average price of $9.31.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts forecast that Amcor plc will post 0.69 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.96%. Amcor’s dividend payout ratio is currently 111.11%.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.