UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 4,851,222 Shares of Amcor plc (NYSE:AMCR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Amcor plc (NYSE:AMCR) by 275.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,613,469 shares of the company’s stock after purchasing an additional 4,851,222 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Amcor were worth $74,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted 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 acquiring an additional 2,319 shares during the period. Rise Advisors LLC purchased a new stake in Amcor in the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC bought a new position in Amcor in the 3rd quarter valued at $35,000. Quent Capital LLC grew its position in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after purchasing an additional 3,242 shares during the period. 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 several recent analyst reports. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird raised their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Stock Down 0.8 %

Shares of AMCR opened at $10.55 on Tuesday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $10.80 and a two-hundred day simple moving average of $10.51. The firm has a market cap of $15.25 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.92 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 96.23%.

Amcor Company Profile

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.