Mirae Asset Global Investments Co. Ltd. Raises Position in Amcor plc (NYSE:AMCR)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,266,821 shares of the company's stock after purchasing an additional 224,610 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Amcor worth $11,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Street Advisors Group LLC raised its stake in shares of Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock valued at $138,000 after acquiring an additional 946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock worth $132,000 after buying an additional 1,023 shares during the period. Forum Financial Management LP increased its position in Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock worth $167,000 after buying an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC increased its position in Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after buying an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC increased its position in Amcor by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock worth $304,000 after buying an additional 1,213 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent research reports. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.46.

Amcor Trading Up 0.3 %

NYSE:AMCR traded up $0.04 on Monday, reaching $10.06. The company's stock had a trading volume of 7,795,544 shares, compared to its average volume of 19,166,537. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market cap of $14.53 billion, a PE ratio of 18.28, a PEG ratio of 1.92 and a beta of 0.84. The business's 50-day moving average price is $9.74 and its two-hundred day moving average price is $10.44.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders 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 annualized dividend and a yield of 5.07%. Amcor's dividend payout ratio is 92.73%.

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.