Robeco Institutional Asset Management B.V. increased its holdings in Amcor plc (NYSE:AMCR – Get Rating) by 31.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 907,292 shares of the company’s stock after acquiring an additional 214,962 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Amcor were worth $9,735,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Toroso Investments LLC purchased a new stake in Amcor in the third quarter worth about $427,000. Invst LLC raised its holdings in Amcor by 17.5% in the third quarter. Invst LLC now owns 72,688 shares of the company’s stock worth $792,000 after purchasing an additional 10,816 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Amcor by 20.3% in the third quarter. IHT Wealth Management LLC now owns 21,441 shares of the company’s stock worth $230,000 after purchasing an additional 3,624 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Amcor by 14.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 71,531 shares of the company’s stock worth $768,000 after purchasing an additional 8,788 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Amcor in the third quarter worth about $1,476,000. 46.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on AMCR. JPMorgan Chase & Co. downgraded shares of Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 target price for the company. in a report on Tuesday, January 24th. Morgan Stanley downgraded shares of Amcor from an “equal weight” rating to an “underweight” rating in a report on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Amcor currently has an average rating of “Hold” and a consensus target price of $12.00.
Amcor Stock Performance
Amcor (NYSE:AMCR – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Amcor had a net margin of 7.14% and a return on equity of 28.65%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. As a group, equities analysts anticipate that Amcor plc will post 0.77 EPS for the current fiscal year.
Amcor Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 21st. Investors of record on Wednesday, March 1st will be given a $0.1225 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $0.49 dividend on an annualized basis and a yield of 4.58%. Amcor’s dividend payout ratio is currently 68.06%.
Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.
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