Capital World Investors Acquires 342,350 Shares of Amcor PLC $AMCR

Capital World Investors raised its position in shares of Amcor PLC (NYSE:AMCR) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,893,720 shares of the company’s stock after purchasing an additional 342,350 shares during the period. Capital World Investors’ holdings in Amcor were worth $40,814,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Lisle Cummings Inc. raised its position in Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of 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 in the last quarter. N.E.W. Advisory Services LLC lifted its stake 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 worth $34,000 after acquiring an additional 373 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Amcor in the second quarter worth about $36,000. Finally, Huntington National Bank grew its holdings in Amcor by 81.8% during the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after acquiring an additional 2,020 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Trading Up 2.7%

Shares of NYSE:AMCR opened at $38.86 on Wednesday. The business’s 50-day moving average is $39.29 and its 200 day moving average is $42.06. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The firm has a market capitalization of $17.97 billion, a P/E ratio of 27.17, a P/E/G ratio of 1.14 and a beta of 0.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. On average, research analysts predict that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. Amcor’s dividend payout ratio is currently 181.82%.

Analyst Ratings Changes

Several research firms have recently commented on AMCR. JPMorgan Chase & Co. reduced their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Truist Financial restated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One research 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

About Amcor

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.