American Century Companies Inc. Purchases 132,429 Shares of Amcor PLC $AMCR

American Century Companies Inc. boosted its holdings in shares of Amcor PLC (NYSE:AMCR) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,328,251 shares of the company’s stock after purchasing an additional 132,429 shares during the period. American Century Companies Inc. owned 0.30% of Amcor worth $39,777,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Amcor by 51.6% during the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock worth $4,266,000 after acquiring an additional 158,082 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Amcor by 71.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock worth $22,483,000 after purchasing an additional 1,019,306 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Amcor by 54,855.7% in the 2nd quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock valued at $5,561,000 after acquiring an additional 603,961 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Amcor by 63.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,012,038 shares of the company’s stock worth $46,061,000 after purchasing an additional 1,946,147 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Amcor during the 2nd quarter worth approximately $463,000. 45.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMCR. JPMorgan Chase & Co. began coverage on Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective for the company. Royal Bank Of Canada assumed coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating on the stock. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective for the company in a research report on Friday, October 10th. Robert W. Baird decreased their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.91.

Amcor Stock Down 1.0%

Shares of NYSE AMCR opened at $8.54 on Friday. The company has a 50 day simple moving average of $8.21 and a 200 day simple moving average of $8.79. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.70. The firm has a market cap of $19.68 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72.

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

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is presently 152.94%.

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.