Mercer Global Advisors Inc. ADV Buys 9,328 Shares of Amcor plc (NYSE:AMCR)

Mercer Global Advisors Inc. ADV lifted its stake in Amcor plc (NYSE:AMCR) by 20.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,259 shares of the company’s stock after buying an additional 9,328 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Amcor were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Amcor by 40.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock valued at $7,069,000 after purchasing an additional 214,458 shares in the last quarter. Empowered Funds LLC increased its stake in Amcor by 244.2% in the 1st quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock worth $986,000 after buying an additional 73,541 shares in the last quarter. M&G Plc raised its holdings in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after acquiring an additional 45,504,608 shares during the period. CHURCHILL MANAGEMENT Corp boosted its stake in Amcor by 60.0% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after purchasing an additional 225,441 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Amcor by 236.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock worth $15,675,000 after acquiring an additional 1,157,878 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Citigroup raised their price target on 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 price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. 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. Finally, Stifel Nicolaus initiated coverage on shares of Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.73.

Amcor Price Performance

Amcor stock opened at $11.35 on Friday. The firm has a market capitalization of $16.40 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. Amcor plc has a 12-month low of $8.45 and a 12-month high of $11.48. The firm has a 50-day moving average price of $10.81 and a 200-day moving average price of $10.07. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts forecast that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.41%. Amcor’s payout ratio is 111.11%.

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.