Nomura Holdings Inc. Cuts Stake in Amcor plc (NYSE:AMCR)

Nomura Holdings Inc. decreased its holdings in Amcor plc (NYSE:AMCR - Free Report) by 62.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,622 shares of the company's stock after selling 78,427 shares during the period. Nomura Holdings Inc.'s holdings in Amcor were worth $448,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Utah Retirement Systems increased its holdings in Amcor by 1.1% during the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after acquiring an additional 1,300 shares during the period. New York Life Investment Management LLC increased its holdings in Amcor by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock worth $1,842,000 after acquiring an additional 1,507 shares during the period. Huntington National Bank increased its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after acquiring an additional 1,522 shares during the period. Blue Trust Inc. increased its holdings in Amcor by 18.4% during the 4th quarter. Blue Trust Inc. now owns 12,254 shares of the company's stock worth $115,000 after acquiring an additional 1,901 shares during the period. Finally, SlateStone Wealth LLC increased its holdings in Amcor by 3.1% during the 4th quarter. SlateStone Wealth LLC now owns 66,550 shares of the company's stock worth $626,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Activity

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial decreased their target price 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 raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Raymond James started coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and an average price target of $11.31.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.22 during mid-day trading on Tuesday, reaching $9.18. 29,435,353 shares of the company were exchanged, compared to its average volume of 18,866,493. Amcor plc has a 52 week low of $8.37 and a 52 week high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $13.27 billion, a PE ratio of 16.69, a PEG ratio of 1.96 and a beta of 0.78. The company's 50 day moving average price is $9.31 and its 200 day moving average price is $9.71.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm posted $0.13 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's dividend payout ratio is currently 91.07%.

Amcor Profile

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.