Glenmede Trust Co. NA raised its position in Amcor plc (NYSE:AMCR - Free Report) by 153.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,163 shares of the company's stock after purchasing an additional 50,949 shares during the period. Glenmede Trust Co. NA's holdings in Amcor were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Townsquare Capital LLC increased its holdings in shares of Amcor by 10.6% in the 3rd quarter. Townsquare Capital LLC now owns 49,105 shares of the company's stock valued at $556,000 after acquiring an additional 4,700 shares during the period. FMR LLC boosted its stake in shares of Amcor by 5.6% during the third quarter. FMR LLC now owns 2,389,346 shares of the company's stock worth $27,071,000 after buying an additional 126,844 shares during the period. Qsemble Capital Management LP grew its holdings in shares of Amcor by 677.9% during the third quarter. Qsemble Capital Management LP now owns 122,320 shares of the company's stock worth $1,386,000 after buying an additional 106,595 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Amcor in the 3rd quarter valued at about $1,215,000. Finally, Daiwa Securities Group Inc. lifted its position in Amcor by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 176,613 shares of the company's stock worth $2,001,000 after acquiring an additional 18,352 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AMCR has been the subject of several analyst reports. Wells Fargo & Company upped their price target on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their target price 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. Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Finally, Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $10.94.
Check Out Our Latest Research Report on Amcor
Amcor Price Performance
AMCR stock traded down $0.01 during midday trading on Tuesday, hitting $10.56. 10,852,937 shares of the stock were exchanged, compared to its average volume of 9,473,226. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The stock's 50-day moving average price is $10.80 and its 200-day moving average price is $10.51. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.92 and a beta of 0.82.
Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate 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 firm posted $0.16 earnings per share. Amcor's revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts predict that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Amcor's previous quarterly dividend of $0.13. Amcor's payout ratio is currently 96.23%.
Amcor Company Profile
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Free Report)
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.
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