Sumitomo Mitsui Trust Group Inc. Grows Stake in Amcor plc (NYSE:AMCR)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 4.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,622,097 shares of the company’s stock after buying an additional 157,557 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Amcor were worth $34,084,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMCR. Sanctuary Advisors LLC acquired a new stake in shares of Amcor during the 2nd quarter worth about $445,000. CWM LLC raised its position in shares of Amcor by 118.0% during the 3rd quarter. CWM LLC now owns 118,761 shares of the company’s stock worth $1,346,000 after acquiring an additional 64,279 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Amcor during the 3rd quarter worth about $35,000. Creative Planning raised its position in shares of Amcor by 9.3% during the 3rd quarter. Creative Planning now owns 117,518 shares of the company’s stock worth $1,331,000 after acquiring an additional 10,029 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Amcor by 10.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 23,417 shares of the company’s stock worth $265,000 after acquiring an additional 2,140 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 0.2 %

NYSE:AMCR opened at $10.02 on Wednesday. The firm has a market cap of $14.48 billion, a P/E ratio of 18.21, a PEG ratio of 1.92 and a beta of 0.84. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock’s 50 day simple moving average is $9.73 and its 200-day simple moving average is $10.44. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities analysts anticipate 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. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMCR. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

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.