KBC Group NV Increases Holdings in Amcor plc (NYSE:AMCR)

KBC Group NV increased its holdings in shares of Amcor plc (NYSE:AMCR) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,152,034 shares of the company’s stock after purchasing an additional 211,850 shares during the quarter. KBC Group NV’s holdings in Amcor were worth $29,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 valued at $74,931,000 after buying an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after acquiring an additional 2,804,484 shares in the last quarter. M&G PLC increased its holdings in 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. lifted its stake in Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock worth $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.8 %

Shares of AMCR opened at $9.82 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a market cap of $14.19 billion, a PE ratio of 18.52, a P/E/G ratio of 1.86 and a beta of 0.84. The business has a fifty day moving average of $9.84 and a 200 day moving average of $10.46.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.20%. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMCR shares. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Finally, Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.