Amcor PLC $AMCR Stake Raised by Legal & General Group Plc

Legal & General Group Plc raised its holdings in Amcor PLC (NYSE:AMCR) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,647,689 shares of the company’s stock after acquiring an additional 679,653 shares during the quarter. Legal & General Group Plc’s holdings in Amcor were worth $122,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. grew its stake in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the last quarter. Larson Financial Group LLC lifted its stake in Amcor by 46.1% during the fourth quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC lifted its stake in Amcor by 10.1% during the fourth quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in Amcor during the second quarter worth approximately $36,000. Finally, Huntington National Bank boosted its holdings in Amcor by 81.8% during the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after buying an additional 2,020 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Amcor stock opened at $39.26 on Friday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The firm’s 50 day simple moving average is $39.47 and its 200-day simple moving average is $42.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The company has a market cap of $18.15 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.20 and a beta of 0.63.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 77.4% on a year-over-year basis. As a group, equities research analysts predict that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.6%. Amcor’s dividend payout ratio is presently 181.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMCR. Wells Fargo & Company set a $41.00 price target on Amcor and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. Citigroup cut their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and an average price target of $49.33.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.