The Manufacturers Life Insurance Company Has $9.13 Million Stock Holdings in Amcor plc (NYSE:AMCR)

The Manufacturers Life Insurance Company grew its position in shares of Amcor plc (NYSE:AMCR) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 805,846 shares of the company’s stock after buying an additional 1,406 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Amcor worth $9,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMCR. Larson Financial Group LLC increased its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC acquired a new stake in shares of Amcor in the third quarter valued at approximately $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor in the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its position in Amcor by 132.8% during the first 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 in the last quarter. Finally, UMB Bank n.a. increased 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 acquiring an additional 1,299 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. raised their target price on shares of 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 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. Citigroup 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 Tuesday, August 20th. Finally, Robert W. Baird upped their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Hold” and an average price target of $10.94.

Amcor Trading Down 0.2 %

Shares of Amcor stock opened at $10.55 on Wednesday. The firm’s 50 day moving average is $10.77 and its 200 day moving average is $10.52. The firm has a market capitalization of $15.24 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts forecast 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 dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.84%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. 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.