XY Capital Ltd Buys New Stake in Amcor plc (NYSE:AMCR)

XY Capital Ltd purchased a new stake in Amcor plc (NYSE:AMCR) in the 4th quarter, HoldingsChannel reports. The fund purchased 452,989 shares of the company’s stock, valued at approximately $4,263,000. Amcor accounts for approximately 2.1% of XY Capital Ltd’s holdings, making the stock its 7th biggest holding.

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

Wall Street Analyst Weigh In

AMCR has been the topic of several research reports. Truist Financial upgraded shares of 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 note on Monday, January 6th. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Performance

AMCR opened at $10.03 on Monday. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. The business has a 50 day moving average price of $9.74 and a two-hundred day moving average price of $10.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.74.

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, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS. Research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors 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 dividend on an annualized basis and a yield of 5.08%. 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.