Amcor plc (NYSE:AMCR) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Amcor plc (NYSE:AMCR) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,622,097 shares of the company’s stock after acquiring an additional 157,557 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Amcor worth $34,084,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Amcor during the 3rd quarter worth approximately $35,000. True Wealth Design LLC increased its holdings in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after buying an additional 3,242 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after buying an additional 6,491 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMCR. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of AMCR stock opened at $10.02 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The stock has a market capitalization of $14.48 billion, a PE ratio of 18.21, a P/E/G ratio of 1.92 and a beta of 0.84. The firm has a 50 day moving average of $9.73 and a two-hundred day moving average of $10.44.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders 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 (DPR) is currently 92.73%.

About Amcor

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.