Crossmark Global Holdings Inc. Purchases 91,321 Shares of Amcor plc (NYSE:AMCR)

Crossmark Global Holdings Inc. grew its holdings in Amcor plc (NYSE:AMCR - Free Report) by 77.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,758 shares of the company's stock after purchasing an additional 91,321 shares during the period. Crossmark Global Holdings Inc.'s holdings in Amcor were worth $2,365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in Amcor by 441.0% in the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company's stock valued at $90,000 after purchasing an additional 6,491 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Amcor during the 3rd quarter valued at about $353,000. Capital Performance Advisors LLP acquired a new position in Amcor in the 3rd quarter worth $97,000. Principal Financial Group Inc. grew its position in shares of Amcor by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company's stock worth $22,316,000 after buying an additional 105,457 shares in the last quarter. Finally, M&G PLC lifted its position in shares of Amcor by 5.9% during the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analyst Upgrades and Downgrades

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

Amcor Trading Down 0.7 %

NYSE AMCR traded down $0.07 during mid-day trading on Wednesday, reaching $10.12. 8,182,264 shares of the stock were exchanged, compared to its average volume of 8,796,423. The stock has a market cap of $14.62 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.83 and a beta of 0.85. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The stock has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $10.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. The company had revenue of $3.35 billion for 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%. Amcor's revenue 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. On average, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor's previous quarterly dividend of $0.13. Amcor's payout ratio is 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.