Amcor PLC $AMCR Holdings Decreased by Royal Bank of Canada

Royal Bank of Canada reduced its position in shares of Amcor PLC (NYSE:AMCR) by 74.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,728,266 shares of the company’s stock after selling 5,024,147 shares during the period. Royal Bank of Canada’s holdings in Amcor were worth $68,699,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMCR. Capital International Investors acquired a new position in Amcor in the fourth quarter worth $354,227,000. Norges Bank bought a new stake in Amcor during the fourth quarter valued at $308,724,000. AQR Capital Management LLC raised its holdings in shares of Amcor by 398.6% during the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock worth $147,184,000 after purchasing an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Amcor during the fourth quarter worth $103,713,000. Finally, Invesco Ltd. lifted its position in shares of Amcor by 29.9% in the 3rd quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after buying an additional 10,846,351 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Jefferies Financial Group set a $44.92 target price on Amcor and gave the company a “hold” rating in a research note on Tuesday, July 21st. BMO Capital Markets initiated coverage on Amcor in a report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price for the company. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Bank of America boosted their price objective on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

Amcor Trading Down 0.4%

Shares of NYSE:AMCR opened at $44.96 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $41.89 and its 200 day moving average price is $42.33. The company has a market cap of $20.79 billion, a PE ratio of 31.44, a P/E/G ratio of 1.41 and a beta of 0.62. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 annualized dividend and a yield of 5.8%. Amcor’s payout ratio is presently 181.82%.

Amcor Profile

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.