Northwestern Mutual Wealth Management Co. Has $85,000 Holdings in Amcor plc (NYSE:AMCR)

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Amcor plc (NYSE:AMCR) by 333.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,693 shares of the company’s stock after buying an additional 6,686 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Amcor were worth $85,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMCR. Riverview Trust Co acquired a new stake in Amcor in the first quarter worth $28,000. Quent Capital LLC increased its position in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares during the period. UMB Bank n.a. raised its stake in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the period. Finally, ORG Partners LLC bought a new position in Amcor in the second quarter worth approximately $47,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.8 %

AMCR stock opened at $11.19 on Friday. The stock has a market cap of $16.17 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.72 and a beta of 0.85. 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’s fifty day simple moving average is $11.01 and its two-hundred day simple moving average is $10.21. Amcor plc has a 1-year low of $8.45 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The firm’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 EPS. Analysts expect that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders 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 dividend yield of 4.47%. Amcor’s payout ratio is currently 98.04%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMCR shares. JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Wells Fargo & Company upped their price objective on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a report on Friday, August 16th. Citigroup lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird upped 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. Finally, Stifel Nicolaus began coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.