Prudential PLC bought a new stake in Amcor PLC (NYSE:AMCR – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 48,418 shares of the company’s stock, valued at approximately $404,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock valued at $2,596,000 after purchasing an additional 20,757 shares during the period. Focus Partners Wealth lifted its stake in shares of Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after purchasing an additional 4,396 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Amcor in the 2nd quarter valued at approximately $138,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Amcor in the 2nd quarter valued at approximately $6,426,000. Finally, CW Advisors LLC purchased a new position in shares of Amcor in the 2nd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.
Wall Street Analysts Forecast Growth
AMCR has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.33.
Amcor Stock Down 0.8%
AMCR stock opened at $37.83 on Tuesday. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The firm has a market cap of $17.49 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 1.15 and a beta of 0.64. The business has a 50 day moving average of $39.29 and a 200 day moving average of $42.09.
Amcor (NYSE:AMCR – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. On average, research analysts forecast that Amcor PLC will post 3.97 EPS for the current fiscal year.
Amcor Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.
Amcor Company Profile
Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.
Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.
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