Capital International Inc. CA Buys Shares of 3,489,973 Amcor PLC $AMCR

Key Points

• Capital International Inc. CA initiated a new stake in Amcor, buying 3,489,973 shares valued at about $29.1 million in the fourth quarter, giving it roughly 0.76% ownership of the company.
• Amcor recently reported quarterly earnings of $0.96 per share, matching analyst estimates, while revenue came in at $5.91 billion, ahead of expectations. Analysts currently have a Moderate Buy consensus with an average target price of $49.33.
• The company announced a quarterly dividend of $0.65 per share, or $2.60 annually, implying a 6.8% yield. Shares recently traded at $38.13, below the 1-year high of $50.94.

Capital International Inc. CA bought a new stake in Amcor PLC (NYSE:AMCR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,489,973 shares of the company's stock, valued at approximately $29,106,000. Capital International Inc. CA owned about 0.76% of Amcor at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC raised its position in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company's stock valued at $34,000 after purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company's stock valued at $37,000 after purchasing an additional 447 shares during the last quarter. United Asset Strategies Inc. raised its position in Amcor by 1.6% in the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company's stock valued at $321,000 after purchasing an additional 597 shares during the last quarter. IFP Advisors Inc raised its position in Amcor by 12.7% in the fourth quarter. IFP Advisors Inc now owns 6,518 shares of the company's stock valued at $54,000 after purchasing an additional 733 shares during the last quarter. Finally, Shayne & Jacobs LLC raised its position in Amcor by 0.6% in the fourth quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company's stock valued at $1,077,000 after purchasing an additional 755 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMCR shares. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an "equal weight" rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded Amcor from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research report on Wednesday, April 1st. They set a "buy" rating and a $50.00 price objective for the company. Truist Financial restated a "buy" rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Amcor presently has an average rating of "Moderate Buy" and an average target price of $49.33.

Amcor Price Performance

Shares of AMCR opened at $38.13 on Monday. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.15 and a beta of 0.64. The business has a 50-day moving average of $39.33 and a 200-day moving average of $42.12. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts' consensus estimates of $0.96. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm's revenue for the quarter was up 77.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, equities research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor's payout ratio is presently 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.

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