Mirae Asset Global Investments Co. Ltd. Purchases 160,302 Shares of Amcor PLC (NYSE:AMCR)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Amcor PLC (NYSE:AMCR - Free Report) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,427,123 shares of the company's stock after acquiring an additional 160,302 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.10% of Amcor worth $13,757,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMCR. Rakuten Securities Inc. raised its position in shares of Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after purchasing an additional 2,996 shares in the last quarter. CVA Family Office LLC increased its stake in shares of Amcor by 234.1% in the first quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock worth $32,000 after buying an additional 2,280 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after acquiring an additional 2,660 shares during the last quarter. Quarry LP grew its holdings in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after acquiring an additional 3,551 shares in the last quarter. Finally, Huntington National Bank grew its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after acquiring an additional 1,522 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Price Performance

Shares of AMCR stock traded down $0.13 during mid-day trading on Thursday, reaching $9.57. The company's stock had a trading volume of 20,324,793 shares, compared to its average volume of 20,821,543. The firm's 50-day moving average is $9.21 and its two-hundred day moving average is $9.52. The company has a market cap of $13.82 billion, a P/E ratio of 17.08, a PEG ratio of 2.29 and a beta of 0.73. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. 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 (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Amcor had a net margin of 5.99% and a return on equity of 26.49%. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. During the same quarter last year, the company earned $0.13 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Raymond James Financial started coverage on shares of Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. UBS Group upgraded Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. Jefferies Financial Group started coverage on shares of Amcor in a report on Wednesday. They set a "buy" rating and a $12.00 price target for the company. Finally, Wells Fargo & Company started coverage on shares of Amcor in a report on Thursday, June 26th. They issued an "overweight" rating and a $10.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $11.30.

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.