Amcor PLC $AMCR Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its stake in Amcor PLC (NYSE:AMCR) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,328,439 shares of the company’s stock after purchasing an additional 1,603,673 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Amcor were worth $119,499,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brown Lisle Cummings Inc. boosted its holdings in shares of Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Amcor during the second quarter worth about $36,000. Larson Financial Group LLC lifted its stake in shares of Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares in the last quarter. N.E.W. Advisory Services LLC increased its position in Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after purchasing an additional 373 shares in the last quarter. Finally, Huntington National Bank raised its holdings in Amcor by 81.8% in the third quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after buying an additional 2,020 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 price target on Amcor and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.33.

Amcor Stock Down 0.8%

Shares of NYSE AMCR opened at $37.83 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The stock’s 50-day simple moving average is $39.29 and its 200-day simple moving average is $42.09. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.15 and a beta of 0.64.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. As a group, equities analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is 181.82%.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.