SEB Asset Management AB Purchases Shares of 96,373 Amcor PLC $AMCR

SEB Asset Management AB acquired a new stake in shares of Amcor PLC (NYSE:AMCR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 96,373 shares of the company’s stock, valued at approximately $3,831,000.

Several other large investors have also modified their holdings of AMCR. AdvisorNet Financial Inc purchased a new stake in shares of Amcor during the first quarter valued at $25,000. DV Equities LLC acquired a new position in shares of Amcor in the 4th quarter valued at $27,000. Brown Lisle Cummings Inc. increased its stake in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares in the last quarter. Larson Financial Group LLC raised its holdings in Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock worth $33,000 after buying an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC raised its holdings 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 buying an additional 373 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Stock Down 0.5%

Shares of Amcor stock opened at $43.21 on Thursday. The stock has a 50-day moving average price of $40.87 and a 200 day moving average price of $42.21. The company has a market cap of $19.98 billion, a P/E ratio of 30.22, a P/E/G ratio of 1.36 and a beta of 0.62. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, analysts expect 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. Investors of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 6.0%. Amcor’s payout ratio is presently 181.82%.

Analysts Set New Price Targets

A number of research firms have commented on AMCR. Jefferies Financial Group set a $44.92 price objective on shares of Amcor and gave the company a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Citigroup reduced their price target 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. Finally, BMO Capital Markets began coverage on shares of Amcor in a research note on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $48.08.

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.