Handelsbanken Fonder AB trimmed its position in Amcor plc (NYSE:AMCR - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 263,555 shares of the company's stock after selling 162,945 shares during the quarter. Handelsbanken Fonder AB's holdings in Amcor were worth $2,556,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. raised its position in Amcor by 20.0% during the first quarter. UMB Bank n.a. now owns 6,386 shares of the company's stock valued at $62,000 after acquiring an additional 1,066 shares in the last quarter. Virtue Capital Management LLC raised its position in Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock valued at $432,000 after acquiring an additional 1,259 shares in the last quarter. Utah Retirement Systems raised its position in Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock valued at $1,130,000 after acquiring an additional 1,300 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Amcor by 0.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 157,588 shares of the company's stock valued at $1,529,000 after acquiring an additional 1,477 shares in the last quarter. Finally, New York Life Investment Management LLC raised its position in Amcor by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after acquiring an additional 1,507 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.
Amcor Price Performance
Shares of Amcor stock traded down $0.16 on Friday, reaching $9.09. The company's stock had a trading volume of 21,495,655 shares, compared to its average volume of 19,693,240. The company has a market capitalization of $13.13 billion, a P/E ratio of 16.52, a PEG ratio of 1.96 and a beta of 0.73. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. The stock has a 50-day moving average price of $9.22 and a 200-day moving average price of $9.61. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.
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 analysts' consensus estimates of $0.18. The business had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. Analysts expect that Amcor plc will post 0.74 EPS for the current year.
Amcor Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Thursday, May 22nd. Amcor's dividend payout ratio is presently 91.07%.
Analysts Set New Price Targets
Several brokerages recently weighed in on AMCR. Raymond James began coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Truist Financial reduced their price target on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.31.
Read Our Latest Report on AMCR
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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