Fjarde AP Fonden Fourth Swedish National Pension Fund Invests $4.47 Million in Amcor plc (NYSE:AMCR)

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of Amcor plc (NYSE:AMCR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 474,500 shares of the company’s stock, valued at approximately $4,465,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Amcor by 275.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after purchasing an additional 2,804,484 shares during the period. M&G PLC lifted its position in Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after buying an additional 1,960,308 shares during the last quarter. Finally, KBC Group NV increased its position in Amcor by 94.8% during the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,430,545 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCR has been the subject of several recent research reports. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Up 0.6 %

Shares of Amcor stock opened at $10.33 on Wednesday. The business has a 50-day moving average of $9.74 and a two-hundred day moving average of $10.42. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a market capitalization of $14.92 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, equities analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.94%. Amcor’s payout ratio is 92.73%.

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.