Amcor plc (NYSE:AMCR) Stock Position Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in Amcor plc (NYSE:AMCR) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,275 shares of the company’s stock after selling 7,229 shares during the period. Mutual of America Capital Management LLC’s holdings in Amcor were worth $1,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMCR. Riverview Trust Co bought a new stake in shares of Amcor in the 1st quarter worth approximately $28,000. Quent Capital LLC grew its position in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after acquiring an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the period. UMB Bank n.a. lifted its position in Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the last quarter. Finally, ORG Partners LLC bought a new stake in Amcor in the 2nd quarter valued at about $47,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMCR. Stifel Nicolaus started coverage on Amcor in a report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Wells Fargo & Company boosted their price target on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Robert W. Baird raised their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Citigroup lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Amcor has an average rating of “Hold” and an average target price of $10.73.

Amcor Trading Down 1.0 %

Shares of AMCR stock opened at $11.08 on Thursday. The stock has a 50-day simple moving average of $10.78 and a 200 day simple moving average of $10.05. The stock has a market capitalization of $16.01 billion, a P/E ratio of 24.64, a P/E/G ratio of 2.73 and a beta of 0.85. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.45. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio is presently 111.11%.

Amcor Company 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.