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

ING Groep NV cut its stake in shares of Amcor plc (NYSE:AMCR) by 8.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Amcor by 39,411.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after purchasing an additional 2,804,484 shares in the last quarter. M&G PLC boosted its holdings in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Amcor by 94.8% during the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock valued at $33,312,000 after purchasing an additional 1,430,545 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 1.5 %

Shares of AMCR opened at $10.24 on Monday. The company has a market cap of $14.79 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.99 and a beta of 0.84. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company’s fifty day simple moving average is $9.72 and its 200-day simple moving average is $10.42. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. As a group, analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

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 paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 4.98%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMCR shares. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.46.

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.