Robeco Institutional Asset Management B.V. Grows Stake in Amcor PLC (NYSE:AMCR)

Robeco Institutional Asset Management B.V. boosted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 781,544 shares of the company's stock after acquiring an additional 230,867 shares during the period. Robeco Institutional Asset Management B.V. owned 0.05% of Amcor worth $7,581,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Live Oak Investment Partners purchased a new stake in Amcor in the 1st quarter worth about $328,000. Moran Wealth Management LLC raised its position in shares of Amcor by 67.2% in the first quarter. Moran Wealth Management LLC now owns 1,786,756 shares of the company's stock valued at $17,332,000 after purchasing an additional 718,058 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Amcor by 6.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 604,345 shares of the company's stock valued at $5,862,000 after buying an additional 36,772 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Amcor by 5.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,025 shares of the company's stock worth $796,000 after buying an additional 4,591 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Amcor in the 1st quarter worth approximately $406,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMCR shares. Wells Fargo & Company assumed coverage on shares of Amcor in a report on Thursday, June 26th. They set an "overweight" rating and a $10.00 target price on the stock. Truist Financial dropped their price objective on 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 started coverage on Amcor in a report on Wednesday. They set a "buy" rating and a $12.00 target price for the company. Raymond James Financial began coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Finally, UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.30.

Amcor Trading Down 1.3%

AMCR stock traded down $0.13 during trading on Thursday, hitting $9.57. 20,324,793 shares of the company traded hands, compared to its average volume of 20,821,543. The company has a 50-day moving average of $9.21 and a 200-day moving average of $9.52. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.70. Amcor PLC has a 1 year low of $8.37 and a 1 year high of $11.48. The firm has a market capitalization of $13.82 billion, a PE ratio of 17.08, a P/E/G ratio of 2.29 and a beta of 0.73.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Amcor Company 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.