Principal Financial Group Inc. Reduces Holdings in Amcor plc (NYSE:AMCR)

Principal Financial Group Inc. decreased its holdings in shares of Amcor plc (NYSE:AMCR – Get Rating) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,026,512 shares of the company’s stock after selling 115,279 shares during the period. Principal Financial Group Inc.’s holdings in Amcor were worth $24,136,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. LPL Financial LLC boosted its position in Amcor by 4.7% in the fourth quarter. LPL Financial LLC now owns 1,660,798 shares of the company’s stock valued at $19,780,000 after buying an additional 74,003 shares during the last quarter. Welch & Forbes LLC purchased a new stake in Amcor in the fourth quarter valued at approximately $137,000. Natixis Advisors L.P. boosted its position in Amcor by 2.1% in the fourth quarter. Natixis Advisors L.P. now owns 147,313 shares of the company’s stock valued at $1,754,000 after buying an additional 3,022 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in Amcor by 16.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 17,803 shares of the company’s stock valued at $191,000 after buying an additional 2,491 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Amcor by 2.1% in the fourth quarter. Arizona State Retirement System now owns 421,479 shares of the company’s stock valued at $5,020,000 after buying an additional 8,868 shares during the last quarter. Hedge funds and other institutional investors own 46.79% of the company’s stock.

Amcor Trading Up 0.1 %

Shares of NYSE:AMCR opened at $10.23 on Friday. Amcor plc has a 12-month low of $9.79 and a 12-month high of $13.60. The company has a market capitalization of $15.05 billion, a PE ratio of 15.50, a PEG ratio of 0.34 and a beta of 0.80. The business has a 50 day moving average of $10.83 and a two-hundred day moving average of $11.44. The company has a current ratio of 1.27, a quick ratio of 0.72 and a debt-to-equity ratio of 1.58.

Amcor (NYSE:AMCR – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.69 billion. Amcor had a return on equity of 27.94% and a net margin of 6.54%. During the same period in the prior year, the company posted $0.21 EPS. As a group, analysts forecast that Amcor plc will post 0.73 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Wednesday, May 24th will be paid a dividend of $0.1225 per share. This represents a $0.49 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Tuesday, May 23rd. Amcor’s payout ratio is 74.24%.

Wall Street Analysts Forecast Growth

AMCR has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Amcor from an “underperform” rating to a “hold” rating in a research report on Wednesday, May 3rd. Morgan Stanley downgraded Amcor from an “equal weight” rating to an “underweight” rating in a report on Wednesday, February 8th. Finally, JPMorgan Chase & Co. raised Amcor from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $11.60 to $10.80 in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.80.

Amcor Company Profile

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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.