Amcor plc (NYSE:AMCR) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 39.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 719,749 shares of the company's stock after buying an additional 203,166 shares during the period. Franklin Resources Inc.'s holdings in Amcor were worth $8,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. Larson Financial Group LLC increased its stake in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after acquiring an additional 2,319 shares during the last quarter. Rise Advisors LLC acquired a new stake in Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC purchased a new position in Amcor in the third quarter valued at approximately $35,000. True Wealth Design LLC lifted its position in Amcor by 3,794.1% during the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Amcor by 296.3% during 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. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Stock Performance

Shares of Amcor stock remained flat at $9.40 during trading on Monday. 5,636,016 shares of the stock traded hands, compared to its average volume of 9,873,127. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a 50 day moving average of $10.44 and a two-hundred day moving average of $10.51. The stock has a market cap of $13.59 billion, a PE ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.82.

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

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a $0.1275 dividend. The ex-dividend date was 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 dividend yield of 5.43%. Amcor's dividend payout ratio (DPR) is 96.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their target price on shares of Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research note 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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.20.

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.