abrdn plc Has $2.05 Million Stock Position in Amcor plc (NYSE:AMCR)

abrdn plc lowered its stake in shares of Amcor plc (NYSE:AMCR) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,519 shares of the company’s stock after selling 41,614 shares during the quarter. abrdn plc’s holdings in Amcor were worth $2,054,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of Amcor in the 2nd quarter valued at approximately $445,000. CWM LLC boosted its stake in Amcor by 118.0% in the 3rd quarter. CWM LLC now owns 118,761 shares of the company’s stock valued at $1,346,000 after buying an additional 64,279 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Amcor by 6,105.4% in the third quarter. Exchange Traded Concepts LLC now owns 389,265 shares of the company’s stock valued at $4,410,000 after acquiring an additional 382,992 shares during the period. Rise Advisors LLC acquired a new position in Amcor during the third quarter worth $35,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Amcor during the third quarter valued at $35,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMCR shares. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Up 0.1 %

Shares of AMCR opened at $10.04 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.92 and a beta of 0.84. The stock has a fifty day moving average of $9.74 and a 200-day moving average of $10.44.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.08%. Amcor’s payout ratio is currently 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.