SG Americas Securities LLC Raises Holdings in Amcor plc (NYSE:AMCR)

SG Americas Securities LLC lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 174.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,983 shares of the company’s stock after buying an additional 95,314 shares during the period. SG Americas Securities LLC’s holdings in Amcor were worth $1,455,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMCR. Marshall Wace LLP raised its stake in shares of Amcor by 303.9% during the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company’s stock worth $81,863,000 after buying an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after acquiring an additional 5,614,233 shares during the period. First Trust Advisors LP grew its holdings in shares of Amcor by 474.7% in the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company’s stock worth $50,837,000 after acquiring an additional 4,462,367 shares during the period. Invesco Ltd. grew its holdings in shares of Amcor by 16.0% in the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock worth $286,300,000 after acquiring an additional 4,199,209 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Amcor in the 4th quarter worth approximately $31,485,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMCR shares. Truist Financial lowered their price target on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Raymond James started coverage on Amcor in a report on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.31.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.19 on Tuesday. The business’s fifty day moving average price is $9.23 and its two-hundred day moving average price is $9.59. The stock has a market cap of $13.29 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a one year low of $8.37 and a one year high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. Amcor’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Thursday, May 22nd. Amcor’s dividend payout ratio is presently 91.07%.

Amcor 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.