Amcor PLC (NYSE:AMCR) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Amcor PLC (NYSE:AMCR - Free Report) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,971,176 shares of the company's stock after acquiring an additional 95,360 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of Amcor worth $19,120,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AMCR. UMB Bank n.a. raised its stake in Amcor by 20.0% in the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock valued at $62,000 after buying an additional 1,066 shares in the last quarter. Koshinski Asset Management Inc. raised its position in shares of Amcor by 10.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 13,659 shares of the company's stock worth $132,000 after acquiring an additional 1,252 shares in the last quarter. Virtue Capital Management LLC lifted its stake in Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock worth $432,000 after purchasing an additional 1,259 shares during the last quarter. Utah Retirement Systems increased its stake in Amcor by 1.1% in the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock valued at $1,130,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Amcor by 5.1% in the first quarter. Private Trust Co. NA now owns 27,301 shares of the company's stock valued at $265,000 after purchasing an additional 1,315 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Performance

AMCR traded down $0.18 on Friday, hitting $9.65. 14,423,568 shares of the company traded hands, compared to its average volume of 21,146,165. The company has a 50 day moving average of $9.25 and a 200-day moving average of $9.52. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $13.95 billion, a PE ratio of 17.23, a PEG ratio of 1.24 and a beta of 0.73. Amcor PLC has a 12-month low of $8.37 and a 12-month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. Sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's payout ratio is 91.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMCR. Raymond James Financial began coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Jefferies Financial Group initiated coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price for the company. Wells Fargo & Company assumed coverage on Amcor in a research note on Thursday, June 26th. They set an "overweight" rating and a $10.00 price target on the stock. Truist Financial reduced their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Friday. Finally, UBS Group raised Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.37.

About Amcor

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.