Amcor plc (NYSE:AMCR) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Amcor plc (NYSE:AMCR - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,622,097 shares of the company's stock after acquiring an additional 157,557 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Amcor worth $34,084,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMCR. Larson Financial Group LLC increased its position in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Amcor during the 3rd quarter valued at approximately $35,000. True Wealth Design LLC increased its position in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Signaturefd LLC increased its position in Amcor by 296.3% during the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company's stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Finally, Covestor Ltd increased its position in Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company's stock valued at $90,000 after buying an additional 6,491 shares in the last quarter. Institutional investors own 45.14% of the company's stock.

Amcor Trading Down 0.4 %

Shares of NYSE:AMCR traded down $0.05 during trading hours on Friday, hitting $10.06. 10,328,334 shares of the company's stock traded hands, compared to its average volume of 20,073,714. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The business has a fifty day moving average price of $9.71 and a 200-day moving average price of $10.43. The firm has a market capitalization of $14.53 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. Equities analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on AMCR shares. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and increased their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and increased their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research note 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 company. Based on data from MarketBeat.com, Amcor has a consensus rating of "Moderate Buy" and a consensus 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.