Sumitomo Mitsui DS Asset Management Company Ltd Purchases 21,839 Shares of Amcor plc (NYSE:AMCR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Amcor plc (NYSE:AMCR) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,704 shares of the company’s stock after buying an additional 21,839 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Amcor were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after purchasing an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after buying an additional 2,804,484 shares during the period. M&G PLC lifted its stake in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after acquiring an additional 1,960,308 shares during the period. Finally, KBC Group NV grew its position in Amcor by 94.8% during the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,430,545 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.03 on Monday. The firm has a market capitalization of $14.50 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a 50 day moving average price of $9.74 and a 200-day moving average price of $10.44. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the firm earned $0.09 EPS. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.08%. Amcor’s payout ratio is currently 92.73%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

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.