CHURCHILL MANAGEMENT Corp Acquires 225,441 Shares of Amcor plc (NYSE:AMCR)

CHURCHILL MANAGEMENT Corp raised its holdings in shares of Amcor plc (NYSE:AMCR) by 60.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601,225 shares of the company’s stock after purchasing an additional 225,441 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Amcor were worth $5,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Amcor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock worth $517,349,000 after purchasing an additional 325,747 shares during the period. Federated Hermes Inc. boosted its stake in shares of Amcor by 1.9% during the 4th quarter. Federated Hermes Inc. now owns 25,391,765 shares of the company’s stock worth $244,777,000 after purchasing an additional 468,883 shares during the period. American Century Companies Inc. boosted its stake in shares of Amcor by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 22,830,158 shares of the company’s stock worth $209,124,000 after purchasing an additional 748,138 shares during the period. Invesco Ltd. boosted its stake in shares of Amcor by 14.9% during the 3rd quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock worth $188,067,000 after purchasing an additional 2,664,715 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Amcor during the 4th quarter worth about $155,438,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.7 %

Shares of AMCR opened at $9.95 on Friday. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.51. The company has a 50-day moving average of $9.80 and a 200 day moving average of $9.54. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 5.38 and a beta of 0.85. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 5.03%. Amcor’s dividend payout ratio is currently 111.11%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st.

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.