MUFG Securities EMEA plc Boosts Stock Position in Amcor PLC $AMCR

MUFG Securities EMEA plc increased its stake in shares of Amcor PLC (NYSE:AMCR) by 114.4% in the fourth quarter, HoldingsChannel reports. The firm owned 94,617 shares of the company’s stock after buying an additional 50,491 shares during the quarter. MUFG Securities EMEA plc’s holdings in Amcor were worth $789,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in Amcor by 11.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock worth $37,000 after purchasing an additional 447 shares in the last quarter. United Asset Strategies Inc. increased its position in Amcor by 1.6% during the 4th quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after purchasing an additional 597 shares in the last quarter. IFP Advisors Inc increased its position in Amcor by 12.7% during the 4th quarter. IFP Advisors Inc now owns 6,518 shares of the company’s stock worth $54,000 after purchasing an additional 733 shares in the last quarter. Finally, Shayne & Jacobs LLC grew its holdings in Amcor by 0.6% in the 4th quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock valued at $1,077,000 after buying an additional 755 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 1.2%

Shares of NYSE:AMCR opened at $37.95 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The stock has a market capitalization of $17.55 billion, a P/E ratio of 26.54, a PEG ratio of 1.16 and a beta of 0.64. The stock has a 50-day simple moving average of $39.41 and a 200-day simple moving average of $42.18.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 77.4% on a year-over-year basis. Equities analysts forecast that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. Amcor’s payout ratio is presently 181.82%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several recent analyst reports. Wells Fargo & Company set a $41.00 price target on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Robert W. Baird set a $54.00 price target on Amcor in a report on Wednesday, February 4th. Finally, Truist Financial restated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.