Robeco Institutional Asset Management B.V. Sells 97,120 Shares of Amcor plc (NYSE:AMCR)

Posted by Defense World Staff on Aug 3rd, 2023

Robeco Institutional Asset Management B.V. reduced its stake in shares of Amcor plc (NYSE:AMCR – Free Report) by 13.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 638,736 shares of the company’s stock after selling 97,120 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Amcor were worth $7,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMCR. Fund Management at Engine No. 1 LLC boosted its position in Amcor by 13.5% during the fourth quarter. Fund Management at Engine No. 1 LLC now owns 16,387 shares of the company’s stock valued at $195,000 after acquiring an additional 1,950 shares during the last quarter. LPL Financial LLC grew its stake in Amcor by 4.7% during the fourth quarter. LPL Financial LLC now owns 1,660,798 shares of the company’s stock worth $19,780,000 after purchasing an additional 74,003 shares during the period. Welch & Forbes LLC bought a new stake in Amcor in the fourth quarter worth approximately $137,000. Natixis Advisors L.P. lifted its stake in Amcor by 2.1% in the fourth quarter. Natixis Advisors L.P. now owns 147,313 shares of the company’s stock valued at $1,754,000 after buying an additional 3,022 shares during the period. Finally, Arizona State Retirement System lifted its stake in Amcor by 2.1% in the fourth quarter. Arizona State Retirement System now owns 421,479 shares of the company’s stock valued at $5,020,000 after buying an additional 8,868 shares during the period. 49.37% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

NYSE AMCR opened at $9.85 on Thursday. The company has a market cap of $14.49 billion, a P/E ratio of 14.92 and a beta of 0.80. The company has a fifty day simple moving average of $10.00 and a 200 day simple moving average of $10.72. Amcor plc has a 12-month low of $9.40 and a 12-month high of $13.37. The company has a current ratio of 1.27, a quick ratio of 0.72 and a debt-to-equity ratio of 1.58.

Amcor (NYSE:AMCR – Get Free Report) last announced its earnings results on Tuesday, May 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Amcor had a return on equity of 27.94% and a net margin of 6.54%. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Sell-side analysts predict that Amcor plc will post 0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research analyst reports. Bank of America lowered shares of Amcor from a “buy” rating to an “underperform” rating in a research note on Monday, July 10th. Jefferies Financial Group upgraded shares of Amcor from an “underperform” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, JPMorgan Chase & Co. upgraded Amcor from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $11.60 to $10.80 in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.80.

Read Our Latest Stock Analysis on Amcor

Amcor Company Profile

(Free Report)

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.