CX Institutional Invests $111,000 in Amcor plc (NYSE:AMCR)

CX Institutional bought a new stake in Amcor plc (NYSE:AMCR) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,478 shares of the company’s stock, valued at approximately $111,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after acquiring an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. grew its position in Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after purchasing an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC grew its position in Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock worth $345,952,000 after purchasing an additional 539,756 shares during the last quarter. Invesco Ltd. increased its stake in Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after purchasing an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after buying an additional 5,614,233 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMCR shares. Raymond James began coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Truist Financial lowered their target price on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.31.

Amcor Stock Performance

NYSE AMCR opened at $9.19 on Tuesday. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 1.96 and a beta of 0.73. The business’s 50 day moving average is $9.23 and its two-hundred day moving average is $9.59. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. Research analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were paid a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor’s dividend payout ratio (DPR) is 91.07%.

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.