Amcor PLC $AMCR Stock Holdings Lowered by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its holdings in shares of Amcor PLC (NYSE:AMCR) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 647,480 shares of the company’s stock after selling 42,057 shares during the period. Gamco Investors INC. ET AL’s holdings in Amcor were worth $5,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. M&G PLC boosted its holdings in Amcor by 26.6% during the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after buying an additional 22,737,979 shares in the last quarter. Federated Hermes Inc. boosted its position in Amcor by 103.9% during the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock worth $321,837,000 after acquiring an additional 20,052,979 shares during the period. AQR Capital Management LLC boosted its position in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after acquiring an additional 12,803,785 shares during the period. Invesco Ltd. grew its position in Amcor by 29.9% during the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after purchasing an additional 10,846,351 shares in the last quarter. Finally, State Street Corp boosted its position in Amcor by 7.2% during the third quarter. State Street Corp now owns 139,077,241 shares of the company’s stock valued at $1,137,652,000 after purchasing an additional 9,375,255 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 2.1%

Shares of NYSE AMCR opened at $36.71 on Wednesday. The firm’s 50-day moving average is $39.83 and its 200-day moving average is $42.36. 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 PLC has a 1 year low of $36.47 and a 1 year high of $50.94. The firm has a market capitalization of $16.97 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.13 and a beta of 0.63.

Amcor (NYSE:AMCR) last issued its 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 company 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 company posted $0.90 EPS. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. Equities analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. Truist Financial reiterated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. 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, Wells Fargo & Company lowered shares of Amcor from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $48.00 to $43.00 in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $49.56.

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.