Principal Financial Group Inc. Has $22.32 Million Stake in Amcor plc (NYSE:AMCR)

Principal Financial Group Inc. grew its position in Amcor plc (NYSE:AMCR) by 5.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,969,613 shares of the company’s stock after buying an additional 105,457 shares during the quarter. Principal Financial Group Inc.’s holdings in Amcor were worth $22,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rise Advisors LLC acquired a new stake in Amcor during the 3rd quarter valued at $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor during the third quarter worth $35,000. Quent Capital LLC increased its stake in shares of Amcor by 51.8% in the second 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 holdings in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares during the last quarter. Finally, UMB Bank n.a. lifted its position 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 in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Citigroup raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amcor presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Down 0.7 %

Shares of NYSE AMCR opened at $10.12 on Thursday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The firm’s 50-day moving average is $10.99 and its 200-day moving average is $10.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.62 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $0.16 earnings per share. Amcor’s revenue was down 2.6% compared to the same quarter last year. Equities analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 94.34%.

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.