Gulf International Bank UK Ltd Decreases Stock Holdings in Amcor plc (NYSE:AMCR)

Gulf International Bank UK Ltd trimmed its holdings in Amcor plc (NYSE:AMCR) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,889 shares of the company’s stock after selling 1,059 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Amcor were worth $1,081,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Barclays PLC increased 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 worth $51,484,000 after buying an additional 1,096,664 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after buying an additional 203,166 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after buying an additional 124,945 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after buying an additional 95,805 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Amcor during the 3rd quarter worth approximately $5,919,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Up 0.4 %

Amcor stock opened at $10.11 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a fifty-two week low of $8.80 and a fifty-two week high of $11.48. The company has a market capitalization of $14.61 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The firm has a 50 day moving average price of $9.78 and a 200 day moving average price of $10.41.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.05%. Amcor’s dividend payout ratio is presently 92.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMCR. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.