abrdn plc boosted its holdings in Amcor plc (NYSE:AMCR – Get Rating) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 263,508 shares of the company’s stock after purchasing an additional 16,698 shares during the period. abrdn plc’s holdings in Amcor were worth $3,138,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AMCR. BlackRock Inc. increased its holdings in Amcor by 1.3% in the third quarter. BlackRock Inc. now owns 116,990,870 shares of the company’s stock valued at $1,255,311,000 after buying an additional 1,466,337 shares during the last quarter. State Street Corp increased its holdings in shares of Amcor by 10.2% in the 1st quarter. State Street Corp now owns 112,644,781 shares of the company’s stock valued at $1,276,265,000 after acquiring an additional 10,472,157 shares during the last quarter. Vanguard Group Inc. lifted its stake in Amcor by 0.6% during the first quarter. Vanguard Group Inc. now owns 56,742,108 shares of the company’s stock worth $642,887,000 after purchasing an additional 358,145 shares during the last quarter. Invesco Ltd. boosted its holdings in Amcor by 40.9% in the first quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock worth $306,797,000 after purchasing an additional 7,854,257 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Amcor by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 23,967,874 shares of the company’s stock valued at $271,556,000 after purchasing an additional 1,564,919 shares during the last quarter. Institutional investors and hedge funds own 46.79% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on AMCR shares. Morgan Stanley lowered shares of Amcor from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, February 8th. JPMorgan Chase & Co. raised Amcor from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $11.60 to $10.80 in a report on Wednesday, May 3rd. Finally, Jefferies Financial Group upgraded Amcor from an “underperform” rating to a “hold” rating in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.80.
Amcor Price Performance
Amcor (NYSE:AMCR – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 27.94% and a net margin of 6.54%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm earned $0.21 EPS. Analysts anticipate that Amcor plc will post 0.73 earnings per share for the current year.
Amcor Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Wednesday, May 24th will be issued a $0.1225 dividend. This represents a $0.49 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Tuesday, May 23rd. Amcor’s dividend payout ratio (DPR) is presently 74.24%.
Amcor Company Profile
Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.
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