Charles Schwab Investment Management Inc. increased its stake in shares of Amcor plc (NYSE:AMCR – Free Report) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,027,283 shares of the company’s stock after acquiring an additional 1,246,013 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.04% of Amcor worth $299,672,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of AMCR. Ameritas Advisory Services LLC bought a new stake in Amcor in the 1st quarter worth approximately $27,000. Money Concepts Capital Corp bought a new stake in Amcor in the fourth quarter worth $31,000. Clear Street Markets LLC raised its stake in Amcor by 93.6% during the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock valued at $33,000 after purchasing an additional 1,408 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Amcor by 697.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,504 shares of the company’s stock valued at $51,000 after purchasing an additional 3,939 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Amcor in the 1st quarter worth $63,000. 49.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on AMCR. TheStreet cut shares of Amcor from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. Truist Financial lowered their price objective on Amcor from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.40.
Insider Activity at Amcor
In other news, Director Arun Nayar sold 30,000 shares of Amcor stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total transaction of $282,000.00. Following the completion of the sale, the director now directly owns 45,072 shares in the company, valued at $423,676.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by company insiders.
Amcor Price Performance
Amcor stock opened at $9.28 on Friday. Amcor plc has a 12-month low of $8.45 and a 12-month high of $12.78. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average price of $9.00 and a 200-day moving average price of $9.62. The firm has a market capitalization of $13.41 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 10.25 and a beta of 0.80.
Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 16th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.87 billion. Amcor had a net margin of 6.72% and a return on equity of 24.92%. As a group, equities research analysts forecast that Amcor plc will post 0.69 EPS for the current year.
Amcor Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.125 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Tuesday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 74.24%.
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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