KBC Group NV Purchases 1,430,545 Shares of Amcor plc (NYSE:AMCR)

KBC Group NV lifted its position in shares of Amcor plc (NYSE:AMCR) by 94.8% in the third quarter, HoldingsChannel.com reports. The fund owned 2,940,184 shares of the company’s stock after buying an additional 1,430,545 shares during the period. KBC Group NV’s holdings in Amcor were worth $33,312,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMCR. M&G Plc raised its stake in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares in the last quarter. M&G PLC increased its position in 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 in the last quarter. AQR Capital Management LLC lifted its stake in Amcor by 356.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after purchasing an additional 2,287,826 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after buying an additional 2,086,698 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after buying an additional 1,527,492 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of research reports. Robert W. Baird increased their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.94.

Amcor Trading Up 0.7 %

NYSE AMCR opened at $10.18 on Friday. The firm has a market capitalization of $14.71 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85. The business’s 50-day moving average price is $10.96 and its two-hundred day moving average price is $10.48. 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 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. On average, analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

About Amcor

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.