Thrivent Financial for Lutherans Has $1.85 Million Stake in Amcor plc (NYSE:AMCR)

Thrivent Financial for Lutherans grew its holdings in shares of Amcor plc (NYSE:AMCR) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,234 shares of the company’s stock after purchasing an additional 3,019 shares during the period. Thrivent Financial for Lutherans’ holdings in Amcor were worth $1,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMCR. Rise Advisors LLC bought a new stake in shares of Amcor in the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor in the 3rd quarter valued at $35,000. Quent Capital LLC raised its holdings 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 acquiring an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 1,299 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upped their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amcor has an average rating of “Hold” and a consensus target price of $10.94.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.50 on Friday. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.89 and a beta of 0.85. The firm has a 50 day simple moving average of $10.80 and a 200 day simple moving average of $10.51.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is presently 96.23%.

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.