Amcor plc (NYSE:AMCR) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its position in shares of Amcor plc (NYSE:AMCR) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 426,500 shares of the company’s stock after selling 17,208 shares during the quarter. Handelsbanken Fonder AB’s holdings in Amcor were worth $4,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Amcor by 275.3% in the third 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 purchasing an additional 4,851,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Amcor by 39,411.0% in 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 purchasing an additional 2,804,484 shares during the period. M&G PLC lifted its stake in shares of Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after buying an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 in the last quarter. Finally, KBC Group NV lifted its stake in shares of Amcor by 94.8% in the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after buying an additional 1,430,545 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several research reports. 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. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Trading Down 1.5 %

Shares of AMCR stock opened at $10.24 on Monday. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. The firm’s 50 day moving average price is $9.72 and its two-hundred day moving average price is $10.42.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders 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 dividend yield of 4.98%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

Amcor 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.