Leonteq Securities AG Acquires New Holdings in Amcor PLC $AMCR

Leonteq Securities AG acquired a new stake in Amcor PLC (NYSE:AMCR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 209,796 shares of the company’s stock, valued at approximately $1,750,000.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Amcor by 7.2% in the 3rd quarter. State Street Corp now owns 139,077,241 shares of the company’s stock valued at $1,137,652,000 after acquiring an additional 9,375,255 shares during the last quarter. Vanguard Group Inc. grew its stake in Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after acquiring an additional 1,845,627 shares during the last quarter. M&G PLC grew its stake in Amcor by 26.6% in the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after acquiring an additional 22,737,979 shares during the last quarter. Invesco Ltd. grew its stake in Amcor by 29.9% in the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after acquiring an additional 10,846,351 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Amcor by 103.9% in the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock valued at $321,837,000 after acquiring an additional 20,052,979 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Trading Up 1.2%

Shares of AMCR stock opened at $38.56 on Friday. The firm has a market cap of $17.83 billion, a P/E ratio of 26.96, a PEG ratio of 1.15 and a beta of 0.63. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The firm’s 50-day simple moving average is $39.67 and its 200-day simple moving average is $42.35.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Amcor’s revenue for the quarter was up 77.4% compared to the same quarter last year. As a group, equities analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 6.7%. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMCR shares. Citigroup lowered their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Wells Fargo & Company set a $41.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor Company 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.