Amcor plc (NYSE:AMCR) Shares Bought by Fmr LLC

FMR LLC increased its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,389,346 shares of the company's stock after purchasing an additional 126,844 shares during the period. FMR LLC owned approximately 0.17% of Amcor worth $27,071,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after buying an additional 2,319 shares in the last quarter. Rise Advisors LLC purchased a new position in Amcor in the third quarter valued at about $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the third quarter valued at about $35,000. 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, UMB Bank n.a. increased its holdings in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company's stock valued at $46,000 after buying an additional 1,299 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMCR. JPMorgan Chase & Co. increased their price target on shares of Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Robert W. Baird increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Wells Fargo & Company increased their price target 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, Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.94.

Amcor Trading Down 0.8 %

NYSE AMCR traded down $0.08 during mid-day trading on Tuesday, reaching $10.12. 18,946,987 shares of the stock were exchanged, compared to its average volume of 9,594,015. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The business's fifty day simple moving average is $10.69 and its 200 day simple moving average is $10.52. The stock has a market capitalization of $14.62 billion, a PE ratio of 19.11, a PEG ratio of 1.83 and a beta of 0.82. 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 earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.16 earnings per share. Amcor's revenue was down 2.6% compared to the same quarter last year. On average, research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

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