Qsemble Capital Management LP boosted its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 677.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,320 shares of the company's stock after buying an additional 106,595 shares during the period. Qsemble Capital Management LP's holdings in Amcor were worth $1,386,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in AMCR. M&G Plc raised its position in shares of Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company's stock worth $471,644,000 after purchasing an additional 45,504,608 shares during the last quarter. M&G PLC raised its holdings in Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock worth $549,342,000 after buying an additional 2,775,794 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Amcor by 356.1% in the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company's stock worth $28,659,000 after buying an additional 2,287,826 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company's stock valued at $195,946,000 after buying an additional 2,086,698 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company's stock valued at $489,348,000 after acquiring an additional 1,960,308 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.
Analyst Ratings Changes
Several analysts have commented on the company. Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a research report on Tuesday, August 13th. Robert W. Baird upped their target price on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. Finally, Citigroup lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $10.94.
Get Our Latest Stock Report on Amcor
Amcor Stock Performance
AMCR stock traded down $0.10 during trading on Tuesday, reaching $10.39. The stock had a trading volume of 15,969,023 shares, compared to its average volume of 9,313,079. The firm has a market cap of $15.01 billion, a PE ratio of 19.59, a PEG ratio of 1.89 and a beta of 0.85. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock's 50 day moving average is $10.83 and its two-hundred day moving average is $10.51. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48.
Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm 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%. The business's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, equities analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.
Amcor Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio (DPR) 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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