Capital International Inc. CA Makes New Investment in Amcor PLC $AMCR

Capital International Inc. CA bought a new position in Amcor PLC (NYSE:AMCR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,489,973 shares of the company’s stock, valued at approximately $29,106,000.

Other hedge funds have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. grew its stake in Amcor by 137.9% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the period. Larson Financial Group LLC grew its stake in Amcor by 46.1% in the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the period. N.E.W. Advisory Services LLC grew its stake in Amcor by 10.1% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Amcor in the second quarter valued at approximately $36,000. Finally, Huntington National Bank grew its stake in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AMCR shares. JPMorgan Chase & Co. reduced their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective for the company. Citigroup reduced their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Truist Financial reissued a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Stock Up 0.0%

Shares of NYSE:AMCR opened at $38.13 on Monday. The stock has a market cap of $17.63 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.15 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The business’s 50 day moving average is $39.33 and its 200 day moving average is $42.12.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, sell-side analysts forecast that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Amcor Company Profile

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.