Charles Schwab Investment Management Inc. Has $489.35 Million Stock Holdings in Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. increased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,190,458 shares of the company's stock after buying an additional 1,960,308 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.99% of Amcor worth $489,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMCR. Rise Advisors LLC bought a new position in shares of Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC bought a new position in Amcor in the 3rd quarter valued at about $35,000. Quent Capital LLC increased its holdings in Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company's stock valued at $36,000 after buying an additional 1,241 shares during the period. Signaturefd LLC raised its position in shares of Amcor by 296.3% in the 3rd 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 lifted its holdings in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company's stock worth $39,000 after acquiring an additional 2,519 shares during the period. Institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

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

Amcor Trading Down 0.4 %

Shares of Amcor stock traded down $0.04 on Friday, hitting $10.43. The stock had a trading volume of 5,743,436 shares, compared to its average volume of 9,193,233. The stock has a 50 day moving average of $10.86 and a 200 day moving average of $10.50. The firm has a market capitalization of $15.07 billion, a P/E ratio of 19.76, a PEG ratio of 1.78 and a beta of 0.85. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company's revenue was down 2.6% on a year-over-year basis. 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 fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor's previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.89%. Amcor's dividend payout ratio is presently 94.34%.

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.