Daiwa Securities Group Inc. Acquires 14,222 Shares of Amcor PLC $AMCR

by · The Cerbat Gem

Daiwa Securities Group Inc. lifted its holdings in shares of Amcor PLC (NYSE:AMCR – Free Report) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 373,510 shares of the company’s stock after purchasing an additional 14,222 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Amcor were worth $3,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Lido Advisors LLC boosted its position in shares of Amcor by 3.8% during the 4th quarter. Lido Advisors LLC now owns 41,707 shares of the company’s stock valued at $342,000 after purchasing an additional 1,522 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Amcor by 25.3% in the fourth quarter. CIBC Asset Management Inc now owns 771,001 shares of the company’s stock worth $6,430,000 after acquiring an additional 155,909 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Amcor by 12.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,328,439 shares of the company’s stock worth $119,499,000 after purchasing an additional 1,603,673 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Amcor by 65.4% in the fourth quarter. Natixis Advisors LLC now owns 273,484 shares of the company’s stock worth $2,281,000 after purchasing an additional 108,116 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Amcor by 12.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,290,532 shares of the company’s stock worth $44,123,000 after purchasing an additional 572,832 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR opened at $38.86 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.14 and a beta of 0.64. The stock has a 50 day moving average of $39.29 and a 200 day moving average of $42.06. Amcor PLC has a 12 month low of $36.25 and a 12 month high of $50.94.

Amcor (NYSE:AMCR – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue was up 77.4% on a year-over-year basis. During the same period last year, the business posted $0.90 earnings per share. As a group, sell-side analysts forecast that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Citigroup lowered their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the stock an “equal weight” rating in a research note on Wednesday, May 20th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Read Our Latest Report on AMCR

Amcor Company Profile

(Free Report)

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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