Meeder Advisory Services Inc. Buys 9,004 Shares of Amcor plc (NYSE:AMCR)

Meeder Advisory Services Inc. boosted its stake in Amcor plc (NYSE:AMCR) by 23.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,239 shares of the company’s stock after acquiring an additional 9,004 shares during the period. Meeder Advisory Services Inc.’s holdings in Amcor were worth $462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&G Plc raised its stake in Amcor by 2,741.7% during the second 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 during the last quarter. Wellington Management Group LLP acquired a new position in shares of Amcor in the 4th quarter valued at about $155,438,000. Norges Bank bought a new stake in shares of Amcor during the 4th quarter valued at about $47,669,000. Price T Rowe Associates Inc. MD increased its holdings in Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after purchasing an additional 2,086,698 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Amcor by 2.1% in the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after buying 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 has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The stock has a market cap of $15.88 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The stock’s fifty day simple moving average is $10.60 and its two-hundred day simple moving average is $9.95. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.45.

Amcor (NYSE:AMCR) last issued its quarterly earnings data 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 net margin of 5.35% and a return on equity of 25.45%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts forecast that Amcor plc will post 0.75 EPS 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 issued a dividend of $0.125 per share. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.55%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analysts Forecast Growth

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