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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 275.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,613,469 shares of the company’s stock after acquiring an additional 4,851,222 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.46% of Amcor worth $74,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMCR. M&G Plc increased its holdings in Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after buying an additional 2,804,484 shares during the last quarter. M&G PLC grew its holdings in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after buying an additional 2,775,794 shares in the last quarter. AQR Capital Management LLC raised its position in Amcor by 356.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after buying an additional 2,287,826 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Amcor by 4.8% during 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 acquiring an additional 1,960,308 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMCR. Citigroup upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Amcor currently has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Trading Down 0.8 %

NYSE:AMCR opened at $10.55 on Tuesday. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm’s 50 day moving average is $10.80 and its 200 day moving average is $10.51. The stock has a market capitalization of $15.25 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 4.83%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is 96.23%.

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.