Sumitomo Mitsui DS Asset Management Company Ltd Trims Stock Position in Amcor plc (NYSE:AMCR)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in shares of Amcor plc (NYSE:AMCR) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,865 shares of the company’s stock after selling 1,655 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Amcor were worth $2,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management increased its position in shares of Amcor by 1.3% during the 3rd quarter. Cardinal Capital Management now owns 117,094 shares of the company’s stock worth $1,327,000 after purchasing an additional 1,478 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Amcor by 10.1% during the third quarter. Vontobel Holding Ltd. now owns 23,417 shares of the company’s stock worth $265,000 after buying an additional 2,140 shares during the period. Creative Planning increased its position in shares of Amcor by 9.3% during the third quarter. Creative Planning now owns 117,518 shares of the company’s stock valued at $1,331,000 after acquiring an additional 10,029 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Amcor in the 3rd quarter valued at approximately $35,000. Finally, Rise Advisors LLC acquired a new position in shares of Amcor in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup boosted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.78.

Amcor Stock Performance

Shares of AMCR opened at $11.24 on Monday. Amcor plc has a 1 year low of $8.45 and a 1 year high of $11.48. The stock has a market capitalization of $16.25 billion, a PE ratio of 24.98, a PEG ratio of 2.72 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. The stock has a 50-day simple moving average of $11.09 and a 200-day simple moving average of $10.29.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. On average, analysts predict that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.45%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Amcor Company 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.