Amcor plc (NYSE:AMCR) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its holdings in Amcor plc (NYSE:AMCR) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,573 shares of the company’s stock after purchasing an additional 47,348 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Amcor were worth $5,358,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC grew its position in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares during the last quarter. Signaturefd LLC grew its position in shares of Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after purchasing an additional 3,242 shares during the last quarter. Covestor Ltd grew its position in shares of Amcor by 441.0% in the third quarter. Covestor Ltd now owns 7,963 shares of the company’s stock valued at $90,000 after purchasing an additional 6,491 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Amcor in the third quarter valued at approximately $97,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE:AMCR opened at $10.16 on Wednesday. The firm’s 50 day moving average is $9.70 and its two-hundred day moving average is $10.43. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market cap of $14.68 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMCR. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

About Amcor

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.