Hsbc Holdings PLC Increases Stake in Amcor PLC $AMCR

Hsbc Holdings PLC raised its position in Amcor PLC (NYSE:AMCR) by 1,620.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 672,649 shares of the company’s stock after acquiring an additional 633,554 shares during the period. Hsbc Holdings PLC owned approximately 0.15% of Amcor worth $26,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc purchased a new position in Amcor during the first quarter worth about $25,000. DV Equities LLC purchased a new stake in Amcor in the 4th quarter valued at approximately $27,000. Brown Lisle Cummings Inc. increased its position in Amcor by 137.9% during 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 during the period. Larson Financial Group LLC increased its position 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 purchasing an additional 1,257 shares during the period. Finally, N.E.W. Advisory Services LLC raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMCR. BMO Capital Markets initiated coverage on Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Truist Financial reiterated a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.08.

Amcor Price Performance

AMCR stock opened at $43.48 on Wednesday. The firm has a 50 day moving average of $40.79 and a 200-day moving average of $42.20. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The company has a market cap of $20.10 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.36 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced 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 6.0%. The ex-dividend date was Thursday, May 28th. Amcor’s payout ratio is presently 181.82%.

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.