Amcor (NYSE:AMCR) Sets New 12-Month High at $11.45

Amcor plc (NYSE:AMCR)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $11.45 and last traded at $11.45, with a volume of 587163 shares changing hands. The stock had previously closed at $11.35.

Analyst Upgrades and Downgrades

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

Amcor Trading Up 0.4 %

The company’s fifty day moving average price is $10.81 and its 200-day moving average price is $10.07. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.73 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69.

Amcor (NYSE:AMCR) last posted its quarterly 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 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 analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $0.19 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts expect that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.39%. Amcor’s payout ratio is presently 111.11%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMCR. Envestnet Portfolio Solutions Inc. increased its holdings in Amcor by 40.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock worth $7,069,000 after buying an additional 214,458 shares during the period. Empowered Funds LLC lifted its position in Amcor by 244.2% during the first quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock valued at $986,000 after purchasing an additional 73,541 shares during the period. M&G Plc boosted its holdings in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its position in Amcor by 60.0% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after purchasing an additional 225,441 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Amcor by 236.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock valued at $15,675,000 after buying an additional 1,157,878 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

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.