Amcor PLC $AMCR Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its position in shares of Amcor PLC (NYSE:AMCR) by 55.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,307,985 shares of the company’s stock after purchasing an additional 467,065 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Amcor were worth $10,909,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management increased its stake in Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock worth $2,881,000 after acquiring an additional 147,639 shares during the last quarter. PFG Investments LLC purchased a new stake in Amcor in the fourth quarter valued at $262,000. Vanguard Group Inc. lifted its stake in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares during the last quarter. Code Waechter LLC lifted its stake in shares of Amcor by 105.1% in the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after purchasing an additional 27,725 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Amcor by 64.0% during the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after purchasing an additional 94,753 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of recent analyst reports. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. 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. lowered their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Citigroup dropped their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Wells Fargo & Company set a $41.00 price target on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Performance

NYSE AMCR opened at $41.73 on Thursday. The company has a market cap of $19.29 billion, a P/E ratio of 29.18, a P/E/G ratio of 1.22 and a beta of 0.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The stock has a 50-day moving average of $39.36 and a two-hundred day moving average of $41.93. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. The business’s quarterly revenue was up 77.4% on a year-over-year basis. As a group, analysts anticipate that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.2%. Amcor’s dividend payout ratio is 181.82%.

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.