Capital International Investors Purchases Shares of 42,473,289 Amcor PLC $AMCR

Capital International Investors purchased a new stake in shares of Amcor PLC (NYSE:AMCR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 42,473,289 shares of the company’s stock, valued at approximately $354,227,000. Capital International Investors owned about 9.19% of Amcor at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Amcor by 7.2% during the 3rd quarter. State Street Corp now owns 139,077,241 shares of the company’s stock worth $1,137,652,000 after buying an additional 9,375,255 shares during the period. Vanguard Group Inc. increased its position in Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after buying an additional 1,845,627 shares during the period. M&G PLC increased its position in Amcor by 26.6% during the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company’s stock worth $866,672,000 after buying an additional 22,737,979 shares during the period. Geode Capital Management LLC increased its position in Amcor by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after buying an additional 262,418 shares during the period. Finally, Invesco Ltd. increased its position in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.0%

Shares of NYSE AMCR opened at $38.13 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The stock has a market capitalization of $17.63 billion, a P/E ratio of 26.67, a PEG ratio of 1.15 and a beta of 0.64. The stock’s fifty day moving average is $39.33 and its 200 day moving average is $42.12.

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

Amcor Dividend Announcement

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

Wall Street Analyst Weigh In

AMCR has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective on the stock. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Finally, Citigroup lowered their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

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.