KBC Group NV decreased its stake in shares of Amcor PLC (NYSE:AMCR - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,656,139 shares of the company's stock after selling 495,895 shares during the quarter. KBC Group NV owned approximately 0.18% of Amcor worth $25,765,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Amcor by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after acquiring an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC lifted its position in Amcor by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock worth $345,952,000 after buying an additional 539,756 shares in the last quarter. Invesco Ltd. raised its stake in Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after purchasing an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock valued at $263,215,000 after purchasing an additional 5,614,233 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on AMCR. UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Wells Fargo & Company began coverage on shares of Amcor in a research report on Thursday, June 26th. They set an "overweight" rating and a $10.00 price target for the company. Truist Financial decreased their price objective on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group began coverage on Amcor in a research report on Wednesday. They issued a "buy" rating and a $12.00 target price on the stock. Finally, Raymond James Financial initiated coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.30.
Get Our Latest Report on AMCR
Amcor Stock Down 1.3%
Shares of NYSE:AMCR traded down $0.13 on Friday, hitting $9.57. 20,324,793 shares of the company's stock were exchanged, compared to its average volume of 20,886,255. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a market capitalization of $13.82 billion, a PE ratio of 17.08, a P/E/G ratio of 2.33 and a beta of 0.73. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. The firm's 50-day moving average is $9.20 and its 200 day moving average is $9.51.
Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The firm's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts predict that Amcor PLC will post 0.74 EPS for the current year.
Amcor Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.33%. Amcor's dividend payout ratio (DPR) is presently 91.07%.
Amcor Profile
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Free Report)
Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.
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