Goldman Sachs Group Inc. Increases Holdings in Amcor plc (NYSE:AMCR)

Goldman Sachs Group Inc. boosted its stake in Amcor plc (NYSE:AMCRFree Report) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,875,349 shares of the company’s stock after purchasing an additional 788,369 shares during the period. Goldman Sachs Group Inc.’s holdings in Amcor were worth $85,558,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Amcor during the 4th quarter valued at about $47,669,000. Toronto Dominion Bank purchased a new stake in shares of Amcor during the third quarter valued at approximately $43,187,000. Invesco Ltd. lifted its position in shares of Amcor by 14.9% during the third quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock worth $188,067,000 after purchasing an additional 2,664,715 shares in the last quarter. FMR LLC boosted its stake in shares of Amcor by 315.0% in the third quarter. FMR LLC now owns 1,816,174 shares of the company’s stock valued at $16,636,000 after purchasing an additional 1,378,594 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Amcor by 9.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,730,444 shares of the company’s stock valued at $122,735,000 after purchasing an additional 1,101,845 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on AMCR

Amcor Stock Performance

Amcor stock opened at $9.90 on Tuesday. Amcor plc has a 52 week low of $8.45 and a 52 week high of $10.51. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The stock has a market cap of $14.31 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 5.47 and a beta of 0.85. The stock has a 50 day moving average of $9.65 and a 200-day moving average of $9.51.

Amcor (NYSE:AMCRGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, analysts expect that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 5.05%. Amcor’s dividend payout ratio (DPR) is 111.11%.

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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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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