Amcor plc (NYSE:AMCR) Stock Holdings Lowered by Park Place Capital Corp

Park Place Capital Corp cut its holdings in shares of Amcor plc (NYSE:AMCR) by 40.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,671 shares of the company’s stock after selling 7,844 shares during the period. Park Place Capital Corp’s holdings in Amcor were worth $110,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Amcor by 275.3% during the 3rd 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 acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Amcor by 39,411.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after purchasing an additional 2,804,484 shares in the last quarter. M&G PLC increased its stake in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. AQR Capital Management LLC lifted its stake in Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after buying an additional 2,287,826 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after buying an additional 1,960,308 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMCR shares. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of NYSE AMCR opened at $9.72 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The business’s 50-day moving average price is $9.87 and its two-hundred day moving average price is $10.45. The company has a market capitalization of $14.05 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84.

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

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.24%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio is presently 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.