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Federated Hermes Inc. Buys 916,739 Shares of Amcor PLC (NYSE:AMCR)

Amcor logo with Industrials background

Key Points

  • Federated Hermes Inc. increased its shareholding in Amcor PLC by 5.1%, acquiring 916,739 shares, bringing its total stake to 18,747,111 shares, valued at approximately $181.8 million.
  • Amcor recently reported EPS of $0.18 for the quarter, meeting consensus estimates, despite a year-over-year revenue decline of 2.3% to $3.33 billion.
  • The company declared a quarterly dividend of $0.1275 per share, representing an annualized yield of 5.30% and a relatively high dividend payout ratio of 91.07%.
  • MarketBeat previews top five stocks to own in September.

Federated Hermes Inc. lifted 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 and Exchange Commission. The firm owned 18,747,111 shares of the company's stock after purchasing an additional 916,739 shares during the quarter. Federated Hermes Inc. owned about 1.30% of Amcor worth $181,847,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its stake in Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares during the last quarter. HM Payson & Co. acquired a new position in shares of Amcor in the 1st quarter valued at $30,000. CVA Family Office LLC increased its holdings in shares of Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Quarry LP increased its stake in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after buying an additional 3,551 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in Amcor in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AMCR shares. Jefferies Financial Group initiated coverage on shares of Amcor in a research report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial initiated coverage on shares of Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.51.

View Our Latest Report on Amcor

Amcor Trading Down 0.6%

NYSE AMCR traded down $0.06 on Friday, reaching $9.30. The company had a trading volume of 16,182,987 shares, compared to its average volume of 29,070,164. The stock's 50 day moving average is $9.34 and its 200-day moving average is $9.54. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.22 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. Amcor PLC has a 52 week low of $8.37 and a 52 week high of $11.48.

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

About Amcor

(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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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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