Price T Rowe Associates Inc. MD Boosts Stock Holdings in Amcor plc (NYSE:AMCR)

Price T Rowe Associates Inc. MD increased its stake in Amcor plc (NYSE:AMCR) by 11.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 20,604,159 shares of the company’s stock after buying an additional 2,086,698 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Amcor were worth $195,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Amcor in the 4th quarter worth about $40,000. Global Retirement Partners LLC boosted its holdings in shares of Amcor by 17.0% in the 4th quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock worth $80,000 after buying an additional 1,222 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Amcor by 50.7% in the 4th quarter. Fifth Third Bancorp now owns 72,267 shares of the company’s stock worth $697,000 after buying an additional 24,324 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Amcor by 11.8% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 29,973 shares of the company’s stock worth $288,000 after buying an additional 3,169 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Amcor by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 564,909 shares of the company’s stock worth $5,485,000 after buying an additional 9,710 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMCR. Wells Fargo & Company began coverage on shares of Amcor in a report on Friday, June 28th. They issued an “equal weight” rating and a $9.80 price target on the stock. Stifel Nicolaus started coverage on Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.15.

Amcor Stock Performance

Amcor stock traded up $0.03 during midday trading on Monday, reaching $10.41. The stock had a trading volume of 6,079,419 shares, compared to its average volume of 8,809,493. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.51. The firm’s 50-day moving average price is $9.95 and its 200 day moving average price is $9.58. The firm has a market capitalization of $15.05 billion, a PE ratio of 23.11, a P/E/G ratio of 4.58 and a beta of 0.86. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the business posted $0.18 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, research analysts predict that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Tuesday, May 21st. Amcor’s dividend payout ratio is presently 111.11%.

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.