Amcor plc (NYSE:AMCR) Shares Purchased by Morningstar Investment Management LLC

Morningstar Investment Management LLC lifted its position in Amcor plc (NYSE:AMCR) by 18.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 46,018 shares of the company’s stock after acquiring an additional 7,303 shares during the period. Morningstar Investment Management LLC’s holdings in Amcor were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 valued at $74,931,000 after buying an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in 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 acquiring an additional 2,804,484 shares during the period. M&G PLC grew its holdings in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Amcor by 4.8% during 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 during the period. Finally, KBC Group NV lifted its holdings in shares of Amcor by 94.8% in the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after purchasing an additional 1,430,545 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMCR shares. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price target for the stock 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, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

NYSE:AMCR opened at $10.20 on Thursday. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market cap of $14.74 billion, a P/E ratio of 18.54, a PEG ratio of 1.93 and a beta of 0.84. The business’s 50-day moving average price is $9.71 and its 200 day moving average price is $10.42.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. As a group, sell-side analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

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.