Swiss National Bank Purchases 10,700 Shares of Amcor plc (NYSE:AMCR)

Swiss National Bank increased its position in Amcor plc (NYSE:AMCR) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,289,992 shares of the company’s stock after purchasing an additional 10,700 shares during the quarter. Swiss National Bank’s holdings in Amcor were worth $48,606,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Amcor by 2.1% during the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares during the period. M&G PLC lifted its stake in shares of Amcor by 5.9% during the 3rd 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. M&G Plc boosted its holdings in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Amcor by 11.3% in the 1st 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, ProShare Advisors LLC raised its holdings in Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after acquiring an additional 1,443,364 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their target price 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. lifted their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird raised 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 Friday, August 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Amcor presently has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Trading Up 4.5 %

AMCR opened at $10.34 on Thursday. 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 plc has a twelve month low of $8.78 and a twelve month high of $11.48. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.84 and a beta of 0.85. The company has a 50-day simple moving average of $10.87 and a 200 day simple moving average of $10.50.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.93%. Amcor’s dividend payout ratio (DPR) is 94.34%.

Amcor Company 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.