Amcor PLC $AMCR Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Amcor PLC (NYSE:AMCR) by 42.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,111,854 shares of the company’s stock after acquiring an additional 4,498,695 shares during the quarter. Bank of New York Mellon Corp’s holdings in Amcor were worth $138,878,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Amcor by 15.5% in the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock valued at $660,627,000 after purchasing an additional 9,119,308 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Amcor by 4,928.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,732,524 shares of the company’s stock worth $44,817,000 after buying an additional 4,638,412 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Amcor during the 1st quarter worth approximately $37,522,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 8.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock valued at $483,367,000 after buying an additional 3,778,714 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Amcor by 9.5% in the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock valued at $323,149,000 after buying an additional 2,889,166 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Amcor stock opened at $8.22 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The business has a 50 day simple moving average of $8.16 and a 200-day simple moving average of $8.89. Amcor PLC has a 12 month low of $7.66 and a 12 month high of $10.70. The stock has a market capitalization of $18.95 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the previous year, the company posted $0.16 EPS. Amcor’s revenue was up 71.3% compared to the same quarter last year. Equities analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a $0.13 dividend. The ex-dividend date is Friday, November 28th. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 6.3%. Amcor’s payout ratio is 141.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group began coverage on shares of Amcor in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Truist Financial set a $11.00 target price on Amcor and gave the company a “buy” rating in a report on Friday, July 11th. JPMorgan Chase & Co. started coverage on Amcor in a research note on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Royal Bank Of Canada initiated coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating for the company. Finally, Robert W. Baird lowered their target price on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Amcor has an average rating of “Moderate Buy” and an average price target of $10.84.

Insiders Place Their Bets

In other Amcor news, Director Stephen E. Sterrett bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at approximately $85,500. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

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.