UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 4,851,222 Shares of Amcor plc (NYSE:AMCR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 275.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,613,469 shares of the company's stock after buying an additional 4,851,222 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.46% of Amcor worth $74,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&G PLC increased its position in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company's stock valued at $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. M&G Plc raised its stake in shares of Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company's stock worth $471,644,000 after acquiring an additional 45,504,608 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Amcor by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company's stock valued at $194,783,000 after purchasing an additional 1,443,364 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Amcor by 11.6% during the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company's stock valued at $143,989,000 after buying an additional 1,527,492 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMCR. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research note on Tuesday, August 13th. Wells Fargo & Company boosted their price target on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. Finally, Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.94.

Amcor Stock Down 0.2 %

Shares of AMCR traded down $0.03 during mid-day trading on Tuesday, reaching $10.55. The company had a trading volume of 10,853,393 shares, compared to its average volume of 15,692,397. The firm has a 50-day moving average price of $10.80 and a 200 day moving average price of $10.51. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82. Amcor plc has a 52 week low of $8.78 and a 52 week 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 1.29.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. Amcor's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. On average, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. This is a positive change from Amcor's previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Thursday, November 21st. Amcor's payout ratio is presently 96.23%.

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.