Nan Fung Trinity HK Ltd. Raises Holdings in Amcor plc (NYSE:AMCR)

Nan Fung Trinity HK Ltd. lifted its position in shares of Amcor plc (NYSE:AMCR) by 61.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,719,680 shares of the company’s stock after buying an additional 1,032,400 shares during the period. Amcor comprises about 5.2% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 4th largest holding. Nan Fung Trinity HK Ltd. owned 0.19% of Amcor worth $25,592,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after buying an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Amcor by 39,411.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after acquiring an additional 2,804,484 shares in the last quarter. M&G PLC increased its position in shares of Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after acquiring an additional 1,960,308 shares during the last quarter. Finally, KBC Group NV raised its holdings in Amcor by 94.8% during the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,430,545 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

NYSE AMCR opened at $10.24 on Friday. The stock has a market cap of $14.79 billion, a PE ratio of 18.61, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm has a 50-day moving average of $9.72 and a 200-day moving average of $10.42. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have weighed in on AMCR shares. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.