Amcor PLC $AMCR Position Increased by Profund Advisors LLC

Profund Advisors LLC increased its holdings in Amcor PLC (NYSE:AMCR) by 59.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 58,622 shares of the company’s stock after buying an additional 21,878 shares during the period. Profund Advisors LLC’s holdings in Amcor were worth $539,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Amcor by 15.5% in the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock valued at $660,627,000 after acquiring an additional 9,119,308 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amcor by 8.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock worth $483,367,000 after purchasing an additional 3,778,714 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Amcor by 9.5% in the 1st quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock worth $323,149,000 after purchasing an additional 2,889,166 shares during the last quarter. Wellington Management Group LLP boosted its position in Amcor by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company’s stock valued at $297,860,000 after purchasing an additional 2,735,320 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Amcor by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company’s stock worth $186,142,000 after buying an additional 490,827 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Insider Activity

In related news, Director Stephen E. Sterrett bought 10,000 shares of Amcor stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is owned by company insiders.

Amcor Stock Performance

AMCR opened at $8.42 on Thursday. The business has a 50 day moving average price of $8.16 and a two-hundred day moving average price of $8.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Amcor PLC has a 1-year low of $7.66 and a 1-year high of $10.70.

Amcor (NYSE:AMCR) last released its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the company earned $0.16 earnings per share. Amcor’s revenue was up 71.3% compared to the same quarter last year. Research analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is presently 152.94%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMCR. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a research note on Friday, October 10th. Morgan Stanley reiterated an “overweight” rating and issued a $11.50 price objective on shares of Amcor in a research report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. started coverage on Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.91.

Amcor Profile

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.