ING Groep NV Sells 18,356 Shares of Amcor plc (NYSE:AMCR)

ING Groep NV reduced its position in shares of Amcor plc (NYSE:AMCR) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 194,257 shares of the company’s stock after selling 18,356 shares during the quarter. ING Groep NV’s holdings in Amcor were worth $1,828,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. True Wealth Design LLC lifted its position 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 valued at $38,000 after buying an additional 3,225 shares during the last quarter. Signaturefd LLC lifted its holdings in Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after purchasing an additional 3,242 shares during the last quarter. Covestor Ltd boosted its holdings in Amcor by 441.0% in 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 period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Amcor in the third quarter valued at $97,000. 45.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMCR shares. Citigroup raised 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. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Three investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Trading Down 1.5 %

Shares of AMCR stock opened at $10.24 on Monday. The firm has a market cap of $14.79 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The business has a 50-day moving average price of $9.72 and a two-hundred day moving average price of $10.42. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.98%. Amcor’s dividend payout ratio is currently 92.73%.

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.