State Street Corp Has $1.03 Billion Stake in Amcor plc (NYSE:AMCR)

State Street Corp trimmed its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,024,973 shares of the company's stock after selling 928,437 shares during the period. State Street Corp owned approximately 6.30% of Amcor worth $1,031,313,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Quantinno Capital Management LP boosted its position in Amcor by 9.2% in the 3rd quarter. Quantinno Capital Management LP now owns 444,920 shares of the company's stock valued at $5,041,000 after buying an additional 37,340 shares during the last quarter. IHT Wealth Management LLC increased its stake in Amcor by 7.1% during the 3rd quarter. IHT Wealth Management LLC now owns 27,597 shares of the company's stock valued at $313,000 after buying an additional 1,831 shares during the period. Hilltop Holdings Inc. increased its position in shares of Amcor by 105.7% during the 3rd quarter. Hilltop Holdings Inc. now owns 41,088 shares of the company's stock valued at $466,000 after purchasing an additional 21,117 shares during the period. Centiva Capital LP bought a new position in shares of Amcor during the 3rd quarter valued at about $1,083,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Amcor during the 3rd quarter valued at $508,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Down 0.6 %

AMCR traded down $0.06 during trading on Friday, hitting $10.18. The company had a trading volume of 10,982,843 shares, compared to its average volume of 16,202,786. The firm's 50-day moving average price is $10.72 and its 200 day moving average price is $10.52. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The company has a market capitalization of $14.71 billion, a PE ratio of 19.21, a PEG ratio of 1.89 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.35 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, equities analysts expect 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 $0.1275 dividend. This is a positive change from Amcor's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.01%. Amcor's dividend payout ratio (DPR) is presently 96.23%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMCR. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Amcor from $10.00 to $11.10 and gave the company 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 research report on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.94.

About Amcor

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.