Meiji Yasuda Asset Management Co Ltd. Has $446,000 Stake in Amcor plc (NYSE:AMCR)

Meiji Yasuda Asset Management Co Ltd. reduced its position in Amcor plc (NYSE:AMCR) by 19.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,429 shares of the company’s stock after selling 11,440 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Amcor were worth $446,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Amcor by 275.3% during the third 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 buying an additional 4,851,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after acquiring an additional 2,862,471 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of 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 acquiring an additional 2,804,484 shares during the last quarter. Raymond James Financial Inc. bought a new position in Amcor in the 4th quarter valued at about $23,810,000. Finally, Vanguard Group Inc. boosted its stake in Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the subject of several analyst reports. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Three 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Performance

Shares of AMCR stock opened at $9.72 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The firm’s 50-day simple moving average is $9.93 and its two-hundred day simple moving average is $10.25.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. Amcor’s revenue was down .3% on a year-over-year basis. As a group, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.25%. Amcor’s dividend payout ratio is presently 92.73%.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.