Gulf International Bank UK Ltd Decreases Stock Holdings in Amcor plc (NYSE:AMCR)

Gulf International Bank UK Ltd reduced its position in shares of Amcor plc (NYSE:AMCR) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 114,889 shares of the company’s stock after selling 1,059 shares during the period. Gulf International Bank UK Ltd’s holdings in Amcor were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Forum Financial Management LP lifted its position in shares of Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after purchasing an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the last quarter. CWA Asset Management Group LLC lifted its position in shares of Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after purchasing an additional 1,213 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Amcor by 11.3% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after purchasing an additional 1,409 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of Amcor by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock worth $1,842,000 after purchasing an additional 1,507 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of research reports. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Trading Up 0.4 %

NYSE AMCR opened at $10.11 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm has a market cap of $14.61 billion, a PE ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 0.84. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The firm’s fifty day moving average is $9.78 and its two-hundred day moving average is $10.41.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. Analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.05%. Amcor’s dividend payout ratio is currently 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.