Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 13.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,042,211 shares of the company's stock after purchasing an additional 121,802 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Amcor worth $11,829,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in AMCR. Rise Advisors LLC acquired a new stake in Amcor in the 3rd quarter valued at about $35,000. ORG Wealth Partners LLC acquired a new stake in Amcor in the third quarter valued at approximately $35,000. Quent Capital LLC raised its holdings in Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company's stock valued at $36,000 after acquiring an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Amcor by 132.8% in the first 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 last quarter. Finally, UMB Bank n.a. grew its holdings in Amcor by 38.7% during the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company's stock worth $46,000 after acquiring an additional 1,299 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on AMCR shares. Robert W. Baird lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Friday, August 16th. Wells Fargo & Company lifted their price target on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price objective on Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research report on Tuesday, August 13th. Stifel Nicolaus began coverage on Amcor in a research report on Tuesday, July 9th. They set a "hold" rating and a $10.80 target price on the stock. Finally, Citigroup boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Amcor presently has an average rating of "Hold" and a consensus price target of $10.78.
Read Our Latest Report on AMCR
Amcor Stock Performance
Shares of Amcor stock traded up $0.08 on Monday, hitting $11.08. The stock had a trading volume of 5,557,462 shares, compared to its average volume of 8,792,492. The stock has a market cap of $16.01 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 2.72 and a beta of 0.85. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. Amcor plc has a 52-week low of $8.59 and a 52-week high of $11.48. The company's 50 day moving average price is $11.14 and its 200 day moving average price is $10.37.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting analysts' consensus estimates of $0.21. The company had revenue of $3.54 billion during the quarter, compared to analysts' expectations of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, research analysts anticipate that Amcor plc will post 0.75 EPS for the current year.
Amcor Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were paid a $0.125 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.51%. Amcor's dividend payout ratio is presently 111.11%.
About Amcor
(
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.
See Also
Before you consider Amcor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amcor wasn't on the list.
While Amcor currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
