Amcor PLC $AMCR Stake Boosted by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Amcor PLC (NYSE:AMCR) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,647,689 shares of the company’s stock after purchasing an additional 679,653 shares during the quarter. Legal & General Group Plc owned approximately 3.17% of Amcor worth $122,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Lisle Cummings Inc. grew its position in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Amcor during the second quarter valued at approximately $36,000. Larson Financial Group LLC raised its position in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after purchasing an additional 1,257 shares during the period. N.E.W. Advisory Services LLC lifted its holdings in shares of Amcor by 10.1% in 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 during the last quarter. Finally, Huntington National Bank boosted its position in Amcor by 81.8% during the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Down 1.0%

Amcor stock opened at $39.26 on Friday. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.20 and a beta of 0.63. The company’s 50-day moving average price is $39.47 and its two-hundred day moving average price is $42.30. 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 posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (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 business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 77.4% on a year-over-year basis. On average, analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal 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 given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 6.6%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several analyst reports. Truist Financial reaffirmed 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. JPMorgan Chase & Co. dropped their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup reduced their target price on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. One research 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 data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and an average target price of $49.33.

Amcor 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.