Forsta AP Fonden Acquires 196,100 Shares of Amcor plc (NYSE:AMCR)

Forsta AP Fonden lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 28.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 896,500 shares of the company’s stock after purchasing an additional 196,100 shares during the period. Forsta AP Fonden’s holdings in Amcor were worth $8,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Y.D. More Investments Ltd purchased a new stake in shares of Amcor in the second quarter worth approximately $121,000. Sentry Investment Management LLC purchased a new stake in Amcor in the 2nd quarter valued at $61,000. Daiwa Securities Group Inc. lifted its stake in Amcor by 10.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 158,261 shares of the company’s stock valued at $1,548,000 after acquiring an additional 15,349 shares in the last quarter. Andra AP fonden purchased a new position in Amcor during the 2nd quarter worth $81,000. Finally, Global X Japan Co. Ltd. grew its stake in shares of Amcor by 6.4% in the 2nd quarter. Global X Japan Co. Ltd. now owns 47,247 shares of the company’s stock worth $462,000 after acquiring an additional 2,840 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 1.0 %

Shares of AMCR stock opened at $10.99 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The firm has a market cap of $15.88 billion, a P/E ratio of 24.42, a PEG ratio of 2.68 and a beta of 0.85. The company has a 50 day moving average of $10.60 and a 200-day moving average of $9.95. Amcor plc has a 12-month low of $8.45 and a 12-month high of $11.45.

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

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s dividend payout ratio is currently 111.11%.

Wall Street Analysts Forecast Growth

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

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.