Creative Planning Boosts Holdings in Amcor plc (NYSE:AMCR)

Creative Planning boosted its position in Amcor plc (NYSE:AMCR) by 41.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,489 shares of the company’s stock after buying an additional 31,546 shares during the period. Creative Planning’s holdings in Amcor were worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scientech Research LLC purchased a new position in Amcor in the 2nd quarter valued at $361,000. The Manufacturers Life Insurance Company grew its position in Amcor by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 804,440 shares of the company’s stock valued at $7,867,000 after buying an additional 32,712 shares during the last quarter. MBB Public Markets I LLC grew its position in Amcor by 223.4% in the 2nd quarter. MBB Public Markets I LLC now owns 96,901 shares of the company’s stock valued at $948,000 after buying an additional 66,936 shares during the last quarter. Dark Forest Capital Management LP grew its position in Amcor by 35.7% in the 2nd quarter. Dark Forest Capital Management LP now owns 20,304 shares of the company’s stock valued at $199,000 after buying an additional 5,341 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Amcor by 356.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock valued at $28,659,000 after buying an additional 2,287,826 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on AMCR. Stifel Nicolaus began coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price on the stock. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of 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 boosted their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Finally, Robert W. Baird upped 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor presently has a consensus rating of “Hold” and an average price target of $10.73.

Amcor Stock Up 0.5 %

Shares of NYSE:AMCR opened at $11.11 on Friday. The stock has a market capitalization of $16.05 billion, a P/E ratio of 24.69, a PEG ratio of 2.73 and a beta of 0.85. Amcor plc has a 1 year low of $8.45 and a 1 year high of $11.48. The stock has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $10.19. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $3.54 billion during 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%. Amcor’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. Equities analysts forecast that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Friday, September 6th. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

About Amcor

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.