Fiduciary Trust Co Boosts Stake in Amcor plc (NYSE:AMCR)

Fiduciary Trust Co raised its holdings in Amcor plc (NYSE:AMCR) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632,440 shares of the company’s stock after acquiring an additional 2,838 shares during the period. Fiduciary Trust Co’s holdings in Amcor were worth $7,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. M&G Plc boosted its holdings in shares of Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after buying an additional 2,804,484 shares in the last quarter. M&G PLC grew its position in Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Amcor by 356.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after acquiring an additional 2,287,826 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amcor by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 1.1 %

Shares of NYSE:AMCR opened at $10.50 on Friday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock’s 50-day moving average is $10.80 and its 200 day moving average is $10.51. The company has a market cap of $15.18 billion, a PE ratio of 19.81, a P/E/G ratio of 1.89 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. Sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is presently 96.23%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMCR shares. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup lifted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.94.

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.