OVERSEA CHINESE BANKING Corp Ltd Has $3.34 Million Stock Position in Amcor PLC $AMCR

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Amcor PLC (NYSE:AMCR) by 30.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 400,000 shares of the company’s stock after selling 172,888 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Amcor were worth $3,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Amcor by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Amcor by 11.3% in the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after purchasing an additional 4,396 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Amcor in the second quarter worth approximately $138,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amcor in the second quarter worth approximately $6,426,000. Finally, CW Advisors LLC purchased a new stake in shares of Amcor in the second quarter worth approximately $228,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMCR. Robert W. Baird set a $54.00 price target on shares of Amcor in a research report on Wednesday, February 4th. Citigroup reissued a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research report on Wednesday, January 28th. Truist Financial reduced their price target on shares of Amcor from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.89.

Amcor Price Performance

Shares of AMCR opened at $40.26 on Thursday. The firm has a market cap of $18.60 billion, a PE ratio of 26.31, a PEG ratio of 0.97 and a beta of 0.71. The firm’s 50 day moving average price is $43.15 and its 200 day moving average price is $42.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.77 and a current ratio of 1.30. Amcor PLC has a twelve month low of $37.94 and a twelve month high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $5.53 billion. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The company’s revenue for the quarter was up 68.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. As a group, research analysts expect that Amcor PLC will post 3.95 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is presently 169.93%.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.