Nordea Investment Management AB Purchases 94,753 Shares of Amcor PLC $AMCR

Nordea Investment Management AB increased its position in Amcor PLC (NYSE:AMCR) by 64.0% in the 4th quarter, HoldingsChannel reports. The fund owned 242,866 shares of the company’s stock after purchasing an additional 94,753 shares during the period. Nordea Investment Management AB’s holdings in Amcor were worth $2,034,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. State Street Corp lifted its holdings in Amcor by 7.2% during the third quarter. State Street Corp now owns 139,077,241 shares of the company’s stock valued at $1,137,652,000 after purchasing an additional 9,375,255 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Amcor by 1.1% in the third quarter. Vanguard Group Inc. now owns 111,490,330 shares of the company’s stock worth $911,991,000 after purchasing an additional 1,262,294 shares in the last quarter. M&G PLC raised its position in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after purchasing an additional 22,737,979 shares during the period. Invesco Ltd. raised its position in shares of Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after purchasing an additional 10,846,351 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Amcor by 103.9% during the 3rd quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock valued at $321,837,000 after buying an additional 20,052,979 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Down 3.1%

Amcor stock opened at $38.64 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.77 and a current ratio of 1.30. Amcor PLC has a fifty-two week low of $38.02 and a fifty-two week high of $50.94. The stock has a market cap of $17.85 billion, a P/E ratio of 25.25, a PEG ratio of 0.90 and a beta of 0.65. The firm’s fifty day moving average price is $44.80 and its 200-day moving average price is $42.62.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Equities research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is 169.93%.

Analysts Set New Price Targets

AMCR has been the subject of a number of recent research reports. Truist Financial lifted their price objective on shares of Amcor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Citigroup reaffirmed a “buy” rating on shares of Amcor in a report on Thursday, February 12th. Morgan Stanley cut Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective on the stock. in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $48.00 to $43.00 in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.25.

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.