Amcor plc (NYSE:AMCR) Shares Purchased by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. boosted its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 30.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 609,250 shares of the company's stock after buying an additional 140,850 shares during the quarter. Amcor accounts for about 1.1% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 25th largest holding. Sompo Asset Management Co. Ltd.'s holdings in Amcor were worth $6,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new position in Amcor during the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new position in shares of Amcor in the 3rd quarter valued at $35,000. Quent Capital LLC boosted its holdings in Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company's stock worth $36,000 after buying an additional 1,241 shares in the last quarter. Signaturefd LLC increased its holdings in Amcor by 296.3% in the third quarter. Signaturefd LLC now owns 4,336 shares of the company's stock valued at $49,000 after buying an additional 3,242 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company's stock valued at $39,000 after buying an additional 2,519 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.02 during midday trading on Friday, hitting $10.49. The stock had a trading volume of 15,249,783 shares, compared to its average volume of 13,170,423. 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 stock has a 50 day simple moving average of $10.85 and a 200-day simple moving average of $10.51. The company has a market capitalization of $15.16 billion, a PE ratio of 19.79, a P/E/G ratio of 1.89 and a beta of 0.85. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $0.16 EPS. The firm's revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio is currently 96.23%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMCR. Citigroup raised their target price on Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Amcor presently has an average rating of "Hold" and a consensus target price of $10.94.

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.