96,373 Shares in Amcor PLC $AMCR Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in shares of Amcor PLC (NYSE:AMCR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 96,373 shares of the company’s stock, valued at approximately $3,831,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new position in Amcor in the 1st quarter worth about $25,000. DV Equities LLC acquired a new stake in shares of Amcor during the 4th quarter valued at about $27,000. Brown Lisle Cummings Inc. grew its stake in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after buying an additional 1,257 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings 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 buying an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.5%

AMCR opened at $43.21 on Thursday. The business has a 50 day moving average price of $40.87 and a 200 day moving average price of $42.21. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The firm has a market cap of $19.98 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 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 the consensus estimate of $5.71 billion. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. Research analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMCR. Truist Financial reaffirmed a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. BMO Capital Markets started coverage on shares of Amcor in a research report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price for the company. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wells Fargo & Company set a $43.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

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.