Andra AP fonden Invests $81,000 in Amcor plc (NYSE:AMCR)

Andra AP fonden bought a new stake in Amcor plc (NYSE:AMCR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,300 shares of the company’s stock, valued at approximately $81,000.

Several other institutional investors have also recently added to or reduced their stakes in AMCR. NorthRock Partners LLC increased its stake in shares of Amcor by 2.0% during the 1st quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock valued at $516,000 after acquiring an additional 1,050 shares during the last quarter. Czech National Bank raised its stake in Amcor by 0.5% during the first quarter. Czech National Bank now owns 254,309 shares of the company’s stock worth $2,418,000 after purchasing an additional 1,166 shares during the period. Quent Capital LLC boosted its holdings in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Amcor by 5.3% during the 2nd quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock valued at $250,000 after buying an additional 1,298 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Amcor Stock Performance

Amcor stock opened at $10.89 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. Amcor plc has a one year low of $8.45 and a one year high of $11.45. The stock’s 50 day moving average price is $10.57 and its 200 day moving average price is $9.93. The firm has a market capitalization of $15.73 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, sell-side analysts expect that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Friday, September 6th. Amcor’s payout ratio is 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.