PNC Financial Services Group Inc. Raises Holdings in Amcor plc (NYSE:AMCR)

PNC Financial Services Group Inc. lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 16.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 323,914 shares of the company’s stock after purchasing an additional 46,385 shares during the period. PNC Financial Services Group Inc.’s holdings in Amcor were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AMCR. Teacher Retirement System of Texas raised its stake in shares of Amcor by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 114,079 shares of the company’s stock worth $1,045,000 after buying an additional 1,721 shares in the last quarter. US Bancorp DE raised its stake in shares of Amcor by 2.4% during the 3rd quarter. US Bancorp DE now owns 851,597 shares of the company’s stock worth $7,801,000 after buying an additional 20,110 shares in the last quarter. Signaturefd LLC raised its stake in shares of Amcor by 1,619.5% during the 3rd quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock worth $30,000 after buying an additional 3,077 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Amcor in the 3rd quarter worth approximately $130,000. Finally, Ieq Capital LLC grew its holdings in shares of Amcor by 116.5% in the 3rd quarter. Ieq Capital LLC now owns 22,499 shares of the company’s stock worth $206,000 after acquiring an additional 12,105 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st.

Amcor Stock Performance

AMCR opened at $9.94 on Friday. The stock has a market cap of $14.37 billion, a P/E ratio of 22.09, a P/E/G ratio of 5.40 and a beta of 0.79. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The stock’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $9.44. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.51.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, equities analysts anticipate that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Amcor 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.