BlackRock Fund Advisors recently announced the acquisition of new stake in Amcor Plc (NYSE:AMCR). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.52% to 88.28 million shares with purchase of 0.46 million shares. This fresh investment now brings its stake to 6.11% valued currently at $836.92 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.33 million to 51.87 million shares. And Geode Capital Management LLC has lifted its position by 1.83% or 0.57 million shares – to 31.83 million shares.
With over 4.53 million Amcor Plc (AMCR) shares trading Tuesday and a closing price of $9.68 on the day, the dollar volume was approximately $43.84 million. Currently, there are 1.45B common shares owned by the public and among those 1.44B shares have been available to trade.
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The top 3 mutual fund holders in Amcor Plc are Vanguard 500 Index Fund, Schwab US Dividend Equity ETF, and Government Pension Fund – Global. Vanguard 500 Index Fund owns 35.52 million shares of the company’s stock, all valued at over $336.74 million. The company bought an additional 0.16 million shares recently to bring their total holdings to about 2.46% of the shares outstanding. Schwab US Dividend Equity ETF sold -0.19 million shares to see its total holdings shrink to 23.48 million shares valued at over $222.57 million and representing 1.62% of the shares outstanding. Government Pension Fund – Global bought 0.96 million shares to bring its total holdings to over 22.97 million shares at a value of $217.77 million. Government Pension Fund – Global now owns shares totaling to 1.59% of the shares outstanding.
Shares of Amcor Plc (NYSE: AMCR) opened at $9.66, down -$0.02 from a prior closing price of $9.68. The company’s stock has a 5-day price change of 0.00% and 6.37% over the past three months. AMCR shares are trading -18.72% year to date (YTD), with the 12-month market performance down to -19.20% lower. It has a 12-month low price of $8.45 and touched a high of $12.37 over the same period. AMCR has an average intraday trading volume of 8.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.24%, 5.33%, and -1.62% respectively.
Institutional ownership of Amcor Plc (NYSE: AMCR) shares accounts for 52.30% of the company’s 1.45B shares outstanding. Mutual fund holders own 19.82%, while other institutional holders and individual stakeholders account for 32.67% and 0.40% respectively.
It has a market capitalization of $13.99B and a beta (3y monthly) value of 0.86. The stock’s trailing 12-month PE ratio is 14.78, while the earnings-per-share (ttm) stands at $0.65. The company has a PEG of 2.74 and a Quick Ratio of 0.74 with the debt-to-equity ratio at 1.94. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.36% over the week and 1.81% over the month.
Analysts forecast that Amcor Plc (AMCR) will achieve an EPS of $0.15 for the current quarter, $0.17 for the next quarter and $0.73 for 2025. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was $0.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.98%, and 7.23% over the next financial year. EPS should shrink at an annualized rate of 5.40% over the next five years, compared to 7.36% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Amcor Plc (AMCR) as a “Moderate Buy” at a consensus score of 2.95. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 13 of the 19 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the AMCR, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on July 10, 2023, with the firm’s price target at $12.40-$9.
