161,687 Shares of Amcor PLC $AMCR Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Amcor PLC (NYSE:AMCR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 161,687 shares of the company’s stock, valued at approximately $6,768,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intrua Financial LLC acquired a new stake in shares of Amcor during the 3rd quarter valued at approximately $503,000. MGO One Seven LLC boosted its stake in shares of Amcor by 7.7% during the 3rd quarter. MGO One Seven LLC now owns 8,665 shares of the company’s stock worth $363,000 after acquiring an additional 621 shares in the last quarter. State of Wyoming acquired a new stake in shares of Amcor in the 3rd quarter worth approximately $192,000. Raleigh Capital Management Inc. grew its holdings in shares of Amcor by 8.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 52,711 shares of the company’s stock worth $2,206,000 after acquiring an additional 3,949 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new stake in shares of Amcor in the 3rd quarter worth approximately $8,053,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. BMO Capital Markets began coverage on Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. lowered Amcor from an “overweight” rating to a “neutral” rating and upped their target price for the company from $44.00 to $47.00 in a report on Monday, August 17th. Weiss Ratings raised Amcor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Finally, Citigroup restated a “buy” rating and issued a $52.00 price target (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus target price of $49.54.

Trending Headlines about Amcor

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Revenue was $6.13 billion, above the $5.75 billion consensus, with higher volumes supporting growth. Amcor earnings and outlook
• Positive Sentiment: Amcor raised its quarterly dividend 1.5% to $0.66 per share, equivalent to a $2.64 annualized payout. This may support the stock’s appeal to income-focused investors.
• Positive Sentiment: Truist raised its price target to $53 from $51 and maintained a Buy rating. Truist price target update
• Neutral Sentiment: Amcor’s DecoFusion tube received a sustainability technology award, while a separate lightweight closure launch was promoted for improved recyclability. These product developments could support its sustainability positioning over time. DecoFusion award Lightweight closure
• Negative Sentiment: Quarterly EPS of $0.95 narrowly missed the $0.96 estimate. Amcor also cut its transition-period EPS outlook, citing higher costs, raising concern that cost pressures may weigh on near-term earnings. Amcor earnings and outlook
• Negative Sentiment: Deutsche Bank downgraded Amcor from Buy to Hold, adding a more cautious analyst view. Deutsche Bank rating information

Amcor Stock Down 5.2%

Shares of NYSE AMCR opened at $45.97 on Friday. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a market capitalization of $21.26 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.25 and a quick ratio of 0.76. The firm’s 50-day moving average is $44.03 and its two-hundred day moving average is $43.15.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.01). Amcor had a net margin of 4.55% and a return on equity of 15.86%. The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the company earned $0.11 earnings per share. Equities analysts anticipate that Amcor PLC will post 1.83 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 25th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, November 25th. This is an increase from Amcor’s previous quarterly dividend of $0.65. Amcor’s dividend payout ratio is currently 110.17%.

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.