Sumitomo Mitsui Trust Group Inc. Purchases 484,298 Shares of Amcor PLC (NYSE:AMCR)

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Amcor PLC (NYSE:AMCR – Free Report) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,106,395 shares of the company’s stock after purchasing an additional 484,298 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Amcor worth $39,832,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Rakuten Securities Inc. lifted its holdings in shares of Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock worth $29,000 after buying an additional 2,996 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Amcor by 234.1% during the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company’s stock valued at $32,000 after purchasing an additional 2,280 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares in the last quarter. Quarry LP raised its holdings in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock valued at $35,000 after buying an additional 3,551 shares during the last quarter. Finally, Huntington National Bank increased its holdings in Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMCR. Raymond James Financial began coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Truist Financial reduced their price target on shares of Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company started coverage on Amcor in a report on Thursday, June 26th. They set an “overweight” rating and a $10.00 price objective for the company. Finally, UBS Group upgraded shares of Amcor from a “neutral” rating to a “buy” rating in a report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus price target of $11.20.

Check Out Our Latest Report on Amcor

Amcor Price Performance

Shares of NYSE AMCR opened at $9.46 on Wednesday. Amcor PLC has a 1-year low of $8.37 and a 1-year high of $11.48. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 2.24. The stock has a fifty day simple moving average of $9.20 and a two-hundred day simple moving average of $9.52. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 2.55 and a beta of 0.73.

Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a net margin of 5.99% and a return on equity of 26.49%. Amcor’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. Analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd were given a $0.1275 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.39%. Amcor’s dividend payout ratio (DPR) is currently 91.07%.

Amcor Company Profile

(Free Report)

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.

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