Global X Japan Co. Ltd. Boosts Stock Position in Amcor plc (NYSE:AMCR)

Global X Japan Co. Ltd. raised its stake in shares of Amcor plc (NYSE:AMCR) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,365 shares of the company’s stock after buying an additional 6,510 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Amcor were worth $455,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its position in shares of Amcor by 8.4% during the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after buying an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Amcor by 9.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after purchasing an additional 1,023 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after buying an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after buying an additional 1,085 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after buying an additional 1,213 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMCR. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.02 on Friday. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The business’s 50 day moving average price is $9.76 and its 200 day moving average price is $10.44. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The firm has a market cap of $14.48 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.86 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business posted $0.09 EPS. The company’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.09%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 96.23%.

About Amcor

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.