Mirae Asset Global Investments Co. Ltd. Purchases 224,610 Shares of Amcor plc (NYSE:AMCR)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Amcor plc (NYSE:AMCR) by 21.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,266,821 shares of the company’s stock after purchasing an additional 224,610 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Amcor were worth $11,958,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Creative Planning lifted its position in Amcor by 41.5% in the 2nd quarter. Creative Planning now owns 107,489 shares of the company’s stock valued at $1,051,000 after acquiring an additional 31,546 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Amcor by 333.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,693 shares of the company’s stock worth $85,000 after acquiring an additional 6,686 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Amcor in the 2nd quarter worth $445,000. Czech National Bank raised its holdings in shares of Amcor by 6.9% in the third quarter. Czech National Bank now owns 294,431 shares of the company’s stock valued at $3,336,000 after purchasing an additional 19,008 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Amcor by 18.9% during the third quarter. GAMMA Investing LLC now owns 45,489 shares of the company’s stock valued at $515,000 after purchasing an additional 7,230 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Trading Down 2.0 %

Shares of AMCR opened at $10.02 on Friday. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The business has a 50-day moving average of $9.76 and a 200 day moving average of $10.44. The firm has a market cap of $14.48 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. As a group, research analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.09%. Amcor’s dividend payout ratio is currently 96.23%.

Amcor Company 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.