Nordea Investment Management AB Buys 94,753 Shares of Amcor PLC $AMCR

Nordea Investment Management AB raised its stake in shares of Amcor PLC (NYSE:AMCR) by 64.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,866 shares of the company’s stock after acquiring an additional 94,753 shares during the period. Nordea Investment Management AB’s holdings in Amcor were worth $2,034,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMCR. Quent Capital LLC purchased a new stake in shares of Amcor in the third quarter valued at about $27,000. DecisionPoint Financial LLC purchased a new position in Amcor during the second quarter worth about $34,000. CYBER HORNET ETFs LLC bought a new stake in Amcor in the 2nd quarter worth about $36,000. Huntington National Bank grew its position in Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after purchasing an additional 2,020 shares in the last quarter. Finally, Sentry Investment Management LLC grew its position in Amcor by 510.8% in the 3rd quarter. Sentry Investment Management LLC now owns 4,911 shares of the company’s stock worth $39,000 after purchasing an additional 4,107 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR stock opened at $38.64 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.77 and a current ratio of 1.30. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 0.90 and a beta of 0.65. Amcor PLC has a 52 week low of $38.02 and a 52 week high of $50.94. The firm’s 50-day simple moving average is $44.80 and its two-hundred day simple moving average is $42.62.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $5.53 billion. Amcor had a net margin of 3.04% and a return on equity of 15.57%. The company’s revenue was up 68.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. As a group, equities analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Wednesday, February 25th. Amcor’s dividend payout ratio is 169.93%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMCR. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 target price on the stock. in a research report on Wednesday, January 28th. Citigroup reaffirmed a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Robert W. Baird set a $54.00 price target on Amcor in a report on Wednesday, February 4th. Truist Financial boosted their price objective on Amcor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company downgraded Amcor from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $43.00 in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.25.

About Amcor

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.