Eaton Vance Management grew its holdings in shares of Amcor plc (NYSE:AMCR) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,790,217 shares of the company’s stock after acquiring an additional 202,759 shares during the quarter. Eaton Vance Management owned 0.24% of Amcor worth $44,611,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AMCR. Guggenheim Capital LLC raised its stake in Amcor by 5.7% during the third quarter. Guggenheim Capital LLC now owns 140,350 shares of the company’s stock worth $1,551,000 after acquiring an additional 7,553 shares in the last quarter. Truist Financial Corp increased its stake in shares of Amcor by 892.7% in the third quarter. Truist Financial Corp now owns 359,031 shares of the company’s stock valued at $3,968,000 after buying an additional 322,865 shares during the period. Morgan Stanley increased its stake in shares of Amcor by 214.6% in the third quarter. Morgan Stanley now owns 4,684,477 shares of the company’s stock valued at $51,764,000 after buying an additional 3,195,628 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Amcor by 25.6% in the third quarter. Public Sector Pension Investment Board now owns 190,736 shares of the company’s stock valued at $2,108,000 after buying an additional 38,900 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Amcor by 78.6% in the third quarter. Squarepoint Ops LLC now owns 355,309 shares of the company’s stock valued at $3,926,000 after buying an additional 156,337 shares during the period. 34.95% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on AMCR. Deutsche Bank Aktiengesellschaft downgraded Amcor from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research note on Wednesday, January 20th. UBS Group raised Amcor from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 3rd. BMO Capital Markets raised Amcor from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $11.00 to $13.00 in a research note on Thursday, February 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “neutral” rating and issued a $13.00 target price on shares of Amcor in a report on Tuesday, January 5th. Finally, Smith Barney Citigroup cut Amcor from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Amcor presently has a consensus rating of “Hold” and a consensus price target of $12.57.
Amcor (NYSE:AMCR) last posted its quarterly earnings results on Monday, February 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Amcor had a return on equity of 18.75% and a net margin of 6.00%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. As a group, research analysts expect that Amcor plc will post 0.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 16th. Shareholders of record on Wednesday, February 24th were issued a dividend of $0.1175 per share. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.04%. This is a boost from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, February 23rd. Amcor’s dividend payout ratio is presently 73.44%.
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries worldwide. It operates through two segments, Flexibles and Rigid Packaging. The company provides flexible packaging products, rigid packaging containers, specialty cartons, and closures.
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