OVERSEA CHINESE BANKING Corp Ltd Has $5.86 Million Stock Position in Amcor plc (NYSE:AMCR)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Amcor plc (NYSE:AMCR) by 50.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 516,776 shares of the company’s stock after selling 516,776 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Amcor were worth $5,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMCR. Vanguard Group Inc. lifted its stake in Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after purchasing an additional 1,170,986 shares during the last quarter. M&G PLC lifted its holdings in Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. M&G Plc increased its position in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after buying an additional 2,086,698 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after acquiring an additional 1,443,364 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR stock opened at $10.31 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The firm has a 50 day moving average of $11.01 and a 200-day moving average of $10.47. The company has a market cap of $14.90 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 4.95%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is presently 94.34%.

Wall Street Analyst Weigh In

AMCR has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird boosted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four 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, Amcor currently has a consensus rating of “Hold” and an average price target of $10.94.

About Amcor

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.