Global X Japan Co. Ltd. Raises Stock Position in Amcor plc (NYSE:AMCR)

Global X Japan Co. Ltd. grew its position in Amcor plc (NYSE:AMCR) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,365 shares of the company’s stock after purchasing an additional 6,510 shares during the period. Global X Japan Co. Ltd.’s holdings in Amcor were worth $455,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Amcor by 39,411.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after purchasing an additional 2,804,484 shares during the period. M&G PLC increased its position in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after buying an additional 1,960,308 shares during the period. Finally, KBC Group NV lifted its position in Amcor by 94.8% in the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock valued at $33,312,000 after buying an additional 1,430,545 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of research analyst reports. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

NYSE AMCR opened at $10.02 on Friday. The business’s 50-day moving average price is $9.76 and its 200 day moving average price is $10.44. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a market capitalization of $14.48 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the company earned $0.09 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts predict 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 will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.09%. Amcor’s payout ratio is 96.23%.

Amcor Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.