MUFG Securities EMEA plc Boosts Holdings in Amcor PLC $AMCR

MUFG Securities EMEA plc boosted its position in Amcor PLC (NYSE:AMCR) by 114.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,617 shares of the company’s stock after buying an additional 50,491 shares during the period. MUFG Securities EMEA plc’s holdings in Amcor were worth $789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brown Lisle Cummings Inc. lifted its holdings in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Amcor in the second quarter valued at $36,000. Larson Financial Group LLC lifted its holdings in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the period. N.E.W. Advisory Services LLC lifted its holdings in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the period. Finally, Huntington National Bank lifted its holdings in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AMCR. Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. Truist Financial reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Citigroup reduced their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor Trading Down 1.2%

NYSE:AMCR opened at $37.95 on Thursday. The company has a market capitalization of $17.55 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.16 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94. The stock has a fifty day simple moving average of $39.41 and a 200-day simple moving average of $42.18.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business’s revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities research analysts expect that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

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 is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is currently 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.