KBC Group NV Sells 1,370,464 Shares of Amcor PLC $AMCR

KBC Group NV cut its holdings in Amcor PLC (NYSE:AMCR) by 64.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 740,863 shares of the company’s stock after selling 1,370,464 shares during the quarter. KBC Group NV’s holdings in Amcor were worth $6,179,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMCR. Dakota Wealth Management increased its position in Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after buying an additional 147,639 shares during the last quarter. GAMMA Investing LLC raised its holdings in Amcor by 213.1% during the fourth quarter. GAMMA Investing LLC now owns 126,702 shares of the company’s stock valued at $1,057,000 after buying an additional 86,231 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Amcor by 64.0% in the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after buying an additional 94,753 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Amcor by 53.3% in the third quarter. New Mexico Educational Retirement Board now owns 103,550 shares of the company’s stock worth $847,000 after buying an additional 36,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Amcor by 395.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,760,659 shares of the company’s stock worth $23,663,000 after acquiring an additional 2,203,982 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMCR. Truist Financial lowered their price objective on Amcor from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. Citigroup reiterated a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company cut shares of Amcor from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $48.00 to $43.00 in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.89.

Amcor Trading Up 4.4%

Amcor stock opened at $41.95 on Friday. Amcor PLC has a 52 week low of $37.94 and a 52 week high of $50.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.77 and a current ratio of 1.30. The firm has a market capitalization of $19.38 billion, a PE ratio of 27.42, a PEG ratio of 0.94 and a beta of 0.71. The business’s 50-day simple moving average is $43.63 and its 200-day simple moving average is $42.56.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. The firm’s revenue was up 68.1% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Equities research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.65 per share. The ex-dividend date was Wednesday, February 25th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s payout ratio is 169.93%.

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.