Capital World Investors Acquires 342,350 Shares of Amcor PLC $AMCR

Capital World Investors boosted its holdings in shares of Amcor PLC (NYSE:AMCR) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,893,720 shares of the company’s stock after purchasing an additional 342,350 shares during the quarter. Capital World Investors owned about 1.06% of Amcor worth $40,814,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMCR. Capital International Investors purchased a new position in Amcor during the 4th quarter valued at approximately $354,227,000. Norges Bank purchased a new position in Amcor during the 4th quarter valued at approximately $308,724,000. M&G PLC grew its holdings in Amcor by 26.6% during the 3rd quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after buying an additional 22,737,979 shares in the last quarter. AQR Capital Management LLC grew its holdings in Amcor by 398.6% during the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after buying an additional 12,803,785 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Amcor by 29.9% during the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after buying an additional 10,846,351 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMCR shares. Deutsche Bank Aktiengesellschaft started 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 cut 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 upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial restated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Amcor has an average rating of “Moderate Buy” and an average price target of $49.33.

Amcor Stock Performance

Shares of Amcor stock opened at $38.86 on Wednesday. The stock’s fifty day moving average is $39.29 and its two-hundred day moving average is $42.06. The company 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 quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $0.90 EPS. As a group, analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s dividend payout ratio 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.