Amcor plc (NYSE:AMCR) Holdings Lowered by abrdn plc

abrdn plc decreased its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 15.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,519 shares of the company's stock after selling 41,614 shares during the period. abrdn plc's holdings in Amcor were worth $2,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McAdam LLC purchased a new stake in Amcor during the 4th quarter worth $185,000. Forsta AP Fonden grew its holdings in Amcor by 3.1% during the 4th quarter. Forsta AP Fonden now owns 683,600 shares of the company's stock worth $6,433,000 after acquiring an additional 20,600 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Amcor by 12.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 550,677 shares of the company's stock worth $5,182,000 after acquiring an additional 60,049 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Amcor by 22.9% during the 4th quarter. Pacer Advisors Inc. now owns 208,271 shares of the company's stock worth $1,960,000 after acquiring an additional 38,869 shares in the last quarter. Finally, KBC Group NV grew its holdings in Amcor by 7.2% during the 4th quarter. KBC Group NV now owns 3,152,034 shares of the company's stock worth $29,660,000 after acquiring an additional 211,850 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMCR shares. 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 report on Wednesday, December 11th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Three 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. According to data from MarketBeat, Amcor currently has an average rating of "Moderate Buy" and an average target price of $11.46.

Amcor Stock Performance

NYSE:AMCR traded down $0.05 during mid-day trading on Friday, hitting $10.06. The stock had a trading volume of 10,328,334 shares, compared to its average volume of 18,570,955. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.92 and a beta of 0.84. The company has a 50 day simple moving average of $9.71 and a 200-day simple moving average of $10.43. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm 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%. Amcor's quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. On average, research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given 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 5.07%. Amcor's dividend payout ratio is presently 92.73%.

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.