Meiji Yasuda Life Insurance Co Grows Position in Amcor plc (NYSE:AMCR)

Meiji Yasuda Life Insurance Co raised its stake in Amcor plc (NYSE:AMCR) by 364.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 47,500 shares of the company’s stock after purchasing an additional 37,282 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Amcor were worth $465,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after acquiring an additional 1,170,986 shares during the last quarter. M&G Plc boosted its position in shares of 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 period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 valued at $195,946,000 after buying an additional 2,086,698 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Amcor in the fourth quarter valued at $155,438,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of AMCR opened at $11.02 on Thursday. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.68 and a beta of 0.85. The firm’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $10.00. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.45. The company has a current ratio of 1.17, a quick ratio of 0.69 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 analysts’ consensus estimates of $0.21. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.19 earnings per share. Equities analysts forecast that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio (DPR) is 111.11%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus initiated coverage on Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price for the company. 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 report on Tuesday, August 13th. 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 upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Citigroup lifted 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. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.