Swiss National Bank Reduces Stock Position in Amcor plc (NYSE:AMCR)

Swiss National Bank lowered its stake in shares of Amcor plc (NYSE:AMCR) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,328,392 shares of the company’s stock after selling 194,600 shares during the quarter. Swiss National Bank’s holdings in Amcor were worth $41,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Amcor by 12.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock valued at $2,377,000 after acquiring an additional 27,077 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Amcor by 173.4% in the fourth quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock valued at $3,006,000 after buying an additional 197,760 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Amcor by 40.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock worth $7,069,000 after purchasing an additional 214,458 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Amcor by 0.6% in the third quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock valued at $517,349,000 after purchasing an additional 325,747 shares during the period. Finally, CHURCHILL MANAGEMENT Corp boosted its holdings in Amcor by 60.0% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after buying an additional 225,441 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several analyst reports. Wells Fargo & Company assumed coverage on Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 target price for the company. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.15.

Amcor Stock Down 0.4 %

AMCR stock traded down $0.04 during trading hours on Monday, hitting $9.87. The company’s stock had a trading volume of 514,714 shares, compared to its average volume of 8,536,773. The stock has a 50 day moving average price of $9.98 and a two-hundred day moving average price of $9.55. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.51. The company has a market capitalization of $14.27 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 4.38 and a beta of 0.86. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities research analysts expect that Amcor plc will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 5.07%. Amcor’s dividend payout ratio is currently 111.11%.

Amcor 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.