31,130 Shares in Amcor plc (NYSE:AMCR) Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC bought a new position in Amcor plc (NYSE:AMCR) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 31,130 shares of the company’s stock, valued at approximately $353,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position 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 buying an additional 1,170,986 shares during the period. M&G PLC increased its holdings in Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after purchasing an additional 2,775,794 shares in the last quarter. M&G Plc increased its holdings in Amcor by 2,741.7% in the 2nd 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 in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Amcor by 11.3% in 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, ProShare Advisors LLC increased its holdings in Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after purchasing an additional 1,443,364 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMCR. Robert W. Baird increased their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup raised their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Four equities research 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 company currently has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Stock Down 1.2 %

NYSE:AMCR opened at $10.19 on Wednesday. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The stock has a 50-day simple moving average of $11.01 and a 200 day simple moving average of $10.47. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.42 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. Sell-side analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.00%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is 94.34%.

Amcor Company 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.