Amcor PLC $AMCR Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP trimmed its holdings in Amcor PLC (NYSE:AMCR) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,498,709 shares of the company’s stock after selling 486,600 shares during the quarter. Amcor accounts for approximately 1.6% of Lyrical Asset Management LP’s investment portfolio, making the stock its 28th biggest holding. Lyrical Asset Management LP owned 2.92% of Amcor worth $112,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capital International Investors purchased a new position in Amcor during the fourth quarter valued at approximately $354,227,000. Norges Bank acquired a new position in shares of Amcor in the 4th quarter valued at $308,724,000. M&G PLC boosted its holdings in Amcor by 26.6% during the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after buying an additional 22,737,979 shares in the last quarter. AQR Capital Management LLC grew its position in Amcor by 398.6% during the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after buying an additional 12,803,785 shares during the period. Finally, Invesco Ltd. grew its position in shares of Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after acquiring an additional 10,846,351 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $38.13 on Monday. Amcor PLC has a 52-week low of $36.25 and a 52-week 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 stock’s 50-day moving average price is $39.33 and its 200 day moving average price is $42.12. The stock has a market capitalization of $17.63 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.15 and a beta of 0.64.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.8%. Amcor’s payout ratio is presently 181.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AMCR shares. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup decreased their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Truist Financial reissued a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.33.

Amcor 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.