Sentry Investment Management LLC Invests $61,000 in Amcor plc (NYSE:AMCR)

Sentry Investment Management LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,240 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors have also bought and sold shares of the company. M&G Plc raised its position in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Amcor in the fourth quarter worth approximately $155,438,000. Norges Bank bought a new position in Amcor during the 4th quarter valued at $47,669,000. Price T Rowe Associates Inc. MD boosted its stake in Amcor by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after purchasing an additional 2,086,698 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after purchasing an additional 1,170,986 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.99 on Friday. The company’s fifty day moving average is $10.60 and its two-hundred day moving average is $9.95. The company has a market cap of $15.88 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. Amcor plc has a 12-month low of $8.45 and a 12-month 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 results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. Amcor’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities analysts expect that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 yield of 4.55%. The ex-dividend date is Friday, September 6th. Amcor’s payout ratio is presently 111.11%.

Wall Street Analysts Forecast Growth

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

About Amcor

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.