Prudential PLC Acquires New Shares in Amcor PLC $AMCR

Prudential PLC acquired a new stake in shares of Amcor PLC (NYSE:AMCR) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 48,418 shares of the company’s stock, valued at approximately $404,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Amcor by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after acquiring an additional 20,757 shares during the last quarter. Focus Partners Wealth increased its stake in Amcor by 11.3% in the 1st quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock worth $418,000 after acquiring an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Amcor in the 2nd quarter worth about $138,000. Arrowstreet Capital Limited Partnership bought a new position in Amcor in the 2nd quarter worth about $6,426,000. Finally, CW Advisors LLC bought a new position in Amcor in the 2nd quarter worth about $228,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Down 0.8%

Shares of AMCR stock opened at $37.83 on Tuesday. The stock has a market capitalization of $17.49 billion, a PE ratio of 26.45, a P/E/G ratio of 1.15 and a beta of 0.64. Amcor PLC has a 1-year low of $36.25 and a 1-year high of $50.94. The business has a 50-day moving average of $39.29 and a 200 day moving average of $42.09. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the business posted $0.90 EPS. The business’s revenue was up 77.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders 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 annualized dividend and a yield of 6.9%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup decreased their target price on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor 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.