Northwestern Mutual Wealth Management Co. Buys 27,183 Shares of Amcor PLC $AMCR

Northwestern Mutual Wealth Management Co. increased its stake in Amcor PLC (NYSE:AMCR) by 54.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,502 shares of the company’s stock after purchasing an additional 27,183 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Amcor were worth $646,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AMCR. M&G PLC increased its position in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after purchasing an additional 22,737,979 shares during the period. AQR Capital Management LLC grew its position in Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after acquiring an additional 12,803,785 shares during the last quarter. Invesco Ltd. grew its position in Amcor by 29.9% in the third 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. State Street Corp grew its position in Amcor by 7.2% in the third 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. Finally, Bank of America Corp DE grew its position in Amcor by 136.5% in the second quarter. Bank of America Corp DE now owns 14,807,749 shares of the company’s stock valued at $136,083,000 after acquiring an additional 8,546,367 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $38.86 on Wednesday. The business’s 50-day moving average price is $39.29 and its 200-day moving average price is $42.06. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.14 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

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

Amcor Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on AMCR. Deutsche Bank Aktiengesellschaft began coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Citigroup decreased their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

About Amcor

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.