Handelsbanken Fonder AB Sells 17,208 Shares of Amcor plc (NYSE:AMCR)

Handelsbanken Fonder AB trimmed its holdings in Amcor plc (NYSE:AMCR) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 426,500 shares of the company’s stock after selling 17,208 shares during the quarter. Handelsbanken Fonder AB’s holdings in Amcor were worth $4,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMCR. M&G PLC raised its stake in shares of Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Amcor by 2.0% in the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock valued at $410,144,000 after purchasing an additional 697,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 valued at $74,931,000 after purchasing an additional 4,851,222 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of Amcor by 7.3% in the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock valued at $48,248,000 after purchasing an additional 348,026 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMCR. 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. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Three research 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Down 1.5 %

Shares of Amcor stock opened at $10.24 on Monday. The business’s 50 day simple moving average is $9.72 and its 200 day simple moving average is $10.42. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The firm has a market cap of $14.79 billion, a PE ratio of 18.61, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. On average, analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is 92.73%.

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.