Daiwa Securities Group Inc. Has $3.12 Million Stock Position in Amcor PLC $AMCR

Daiwa Securities Group Inc. lifted its holdings in shares of Amcor PLC (NYSE:AMCR) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 373,510 shares of the company’s stock after buying an additional 14,222 shares during the period. Daiwa Securities Group Inc. owned about 0.08% of Amcor worth $3,115,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp raised its holdings in shares of 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 in the last quarter. M&G PLC raised its holdings in shares of 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 2.7%

NYSE AMCR opened at $38.86 on Wednesday. The business’s 50-day moving average price is $39.29 and its two-hundred day moving average price is $42.06. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94. The firm has a market capitalization of $17.97 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a report 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average price target of $49.33.

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.