Park Avenue Securities LLC Boosts Stock Position in Amcor plc (NYSE:AMCR)

Park Avenue Securities LLC grew its holdings in shares of Amcor plc (NYSE:AMCR) by 13.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,571 shares of the company’s stock after buying an additional 2,348 shares during the period. Park Avenue Securities LLC’s holdings in Amcor were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amcor by 275.3% in the 3rd 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 buying an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Amcor by 39,411.0% during the third 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 last quarter. M&G PLC increased its position in shares of Amcor by 5.9% during the third 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 holdings in shares of 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. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 1,960,308 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of AMCR opened at $9.75 on Monday. The firm has a market capitalization of $14.09 billion, a PE ratio of 18.39, a P/E/G ratio of 1.86 and a beta of 0.84. The stock’s 50 day moving average is $9.84 and its two-hundred day moving average is $10.45. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. 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 (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. Research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a $0.1275 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.23%. Amcor’s dividend payout ratio (DPR) is 96.23%.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of research reports. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amcor currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

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.