V Square Quantitative Management LLC Has $251,000 Stock Position in Amcor PLC $AMCR

V Square Quantitative Management LLC reduced its holdings in Amcor PLC (NYSE:AMCR) by 79.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,304 shares of the company’s stock after selling 24,996 shares during the quarter. V Square Quantitative Management LLC’s holdings in Amcor were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its holdings in Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after buying an additional 2,432,340 shares during the period. M&G PLC boosted its holdings in shares of Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after buying an additional 6,655,611 shares during the period. Vanguard Group Inc. increased its position in shares of Amcor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amcor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after acquiring an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Amcor by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after acquiring an additional 262,418 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

AMCR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. cut their price target on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Truist Financial reiterated a “buy” rating and set a $51.00 price objective (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Wells Fargo & Company set a $41.00 target price on Amcor and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Amcor Stock Down 0.3%

AMCR stock opened at $44.46 on Wednesday. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.26 and a beta of 0.62. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The business has a 50 day moving average price of $39.96 and a two-hundred day moving average price of $42.09. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30.

Amcor (NYSE:AMCR) last announced 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 net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. Analysts anticipate that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

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