Franklin Resources Inc. Raises Stock Holdings in Amcor plc (NYSE:AMCR)

Franklin Resources Inc. boosted its holdings in shares of Amcor plc (NYSE:AMCR) by 39.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 719,749 shares of the company’s stock after purchasing an additional 203,166 shares during the quarter. Franklin Resources Inc.’s holdings in Amcor were worth $8,162,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. Rise Advisors LLC bought a new stake in Amcor in the third quarter valued at about $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor during the third quarter valued at approximately $35,000. True Wealth Design LLC lifted its holdings in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Amcor by 38.7% in 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 in the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMCR has been the topic of several research analyst reports. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company boosted 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. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.20.

Amcor Stock Performance

Amcor stock opened at $9.40 on Monday. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.82. The firm has a 50-day moving average price of $10.44 and a two-hundred day moving average price of $10.51.

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

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.43%. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

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.