Amcor plc (NYSE:AMCR) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Amcor plc (NYSE:AMCR) by 0.7% in the 2nd quarter, Holdings Channel reports. The firm owned 259,520 shares of the company’s stock after purchasing an additional 1,781 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Amcor were worth $2,538,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AMCR. M&G Plc increased its stake in Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Amcor during the fourth quarter worth approximately $155,438,000. Norges Bank acquired a new position in Amcor in the 4th quarter valued at $47,669,000. Price T Rowe Associates Inc. MD lifted its holdings in Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after purchasing an additional 2,086,698 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMCR shares. Citigroup increased their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Wells Fargo & Company increased their price target on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus initiated coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.73.

Amcor Stock Up 1.1 %

Shares of NYSE AMCR opened at $11.44 on Friday. The company has a market capitalization of $16.53 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.64 and a beta of 0.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The company has a 50 day simple moving average of $10.29 and a 200-day simple moving average of $9.79. Amcor plc has a 1 year low of $8.45 and a 1 year high of $11.45.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts predict that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.37%. Amcor’s payout ratio is currently 111.11%.

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.