Allspring Global Investments Holdings LLC Grows Stock Holdings in Amcor plc (NYSE:AMCR)

Allspring Global Investments Holdings LLC grew its holdings in Amcor plc (NYSE:AMCR) by 4.8% during the 4th quarter, Holdings Channel reports. The fund owned 81,433 shares of the company’s stock after purchasing an additional 3,751 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Amcor were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. XY Capital Ltd acquired a new stake in Amcor during the fourth quarter worth about $4,263,000. AlphaStar Capital Management LLC lifted its stake in Amcor by 16.6% in the fourth quarter. AlphaStar Capital Management LLC now owns 49,287 shares of the company’s stock worth $464,000 after acquiring an additional 7,009 shares during the last quarter. Empowered Funds LLC grew its holdings in Amcor by 25.9% during the 4th quarter. Empowered Funds LLC now owns 167,952 shares of the company’s stock worth $1,580,000 after acquiring an additional 34,573 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Amcor during the 4th quarter worth approximately $7,789,000. Finally, Apollon Wealth Management LLC acquired a new position in Amcor during the 4th quarter worth approximately $125,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Down 1.5 %

AMCR stock opened at $10.24 on Monday. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $14.79 billion, a P/E ratio of 18.61, a PEG ratio of 1.99 and a beta of 0.84. The firm has a 50 day simple moving average of $9.72 and a 200-day simple moving average of $10.42.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm 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 was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Analyst Upgrades and Downgrades

AMCR has been the subject of several analyst reports. Bank of America upgraded shares of 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. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.