Amcor PLC $AMCR Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amcor PLC (NYSE:AMCR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 161,687 shares of the company’s stock, valued at approximately $6,768,000.

A number of other institutional investors have also modified their holdings of AMCR. Intrua Financial LLC purchased a new position in shares of Amcor during the 3rd quarter worth $503,000. MGO One Seven LLC boosted its holdings in shares of Amcor by 7.7% during the third quarter. MGO One Seven LLC now owns 8,665 shares of the company’s stock worth $363,000 after purchasing an additional 621 shares during the last quarter. State of Wyoming acquired a new stake in shares of Amcor during the third quarter worth $192,000. Raleigh Capital Management Inc. boosted its holdings in shares of Amcor by 8.1% during the third quarter. Raleigh Capital Management Inc. now owns 52,711 shares of the company’s stock worth $2,206,000 after purchasing an additional 3,949 shares during the last quarter. Finally, Soltis Investment Advisors LLC purchased a new stake in shares of Amcor in the third quarter valued at $8,053,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMCR. Jefferies Financial Group set a $44.92 target price on Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Amcor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 29th. BMO Capital Markets initiated coverage on Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target on the stock. Wells Fargo & Company raised their price target on Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Finally, Bank of America lifted their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.54.

Amcor Stock Performance

Shares of AMCR stock opened at $45.97 on Friday. Amcor PLC has a one year low of $36.25 and a one year high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The company has a 50 day moving average price of $44.03 and a 200 day moving average price of $43.15. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, November 4th. The company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.01). The firm had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amcor had a return on equity of 15.86% and a net margin of 4.55%. During the same period last year, the business posted $0.11 earnings per share. Sell-side analysts anticipate that Amcor PLC will post 1.83 EPS for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 25th will be given a dividend of $0.66 per share. This is a boost from Amcor’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $2.64 dividend on an annualized basis and a yield of 5.7%. Amcor’s dividend payout ratio is currently 110.17%.

Trending Headlines about Amcor

Here are the key news stories impacting Amcor this week:

• Positive Sentiment: Revenue was $6.13 billion, above the $5.75 billion consensus, with higher volumes supporting growth. Amcor earnings and outlook
• Positive Sentiment: Amcor raised its quarterly dividend 1.5% to $0.66 per share, equivalent to a $2.64 annualized payout. This may support the stock’s appeal to income-focused investors.
• Positive Sentiment: Truist raised its price target to $53 from $51 and maintained a Buy rating. Truist price target update
• Neutral Sentiment: Amcor’s DecoFusion tube received a sustainability technology award, while a separate lightweight closure launch was promoted for improved recyclability. These product developments could support its sustainability positioning over time. DecoFusion award Lightweight closure
• Negative Sentiment: Quarterly EPS of $0.95 narrowly missed the $0.96 estimate. Amcor also cut its transition-period EPS outlook, citing higher costs, raising concern that cost pressures may weigh on near-term earnings. Amcor earnings and outlook
• Negative Sentiment: Deutsche Bank downgraded Amcor from Buy to Hold, adding a more cautious analyst view. Deutsche Bank rating information

About Amcor

Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging solutions for food, beverage, pharmaceutical, medical, personal care, household, and other consumer and industrial products. Its offerings include flexible packaging, rigid containers, closures, bottles, specialty cartons, and related packaging systems designed to protect products, support supply chains, and improve convenience and sustainability.

The company serves customers across North America, Latin America, Europe, Asia-Pacific, and other international markets.