AE Wealth Management LLC Buys 8,763 Shares of Amcor plc (NYSE:AMCR)

AE Wealth Management LLC grew its stake in shares of Amcor plc (NYSE:AMCR) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 181,646 shares of the company’s stock after purchasing an additional 8,763 shares during the quarter. AE Wealth Management LLC’s holdings in Amcor were worth $1,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMCR. M&G Plc increased its position in shares of Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after acquiring an additional 45,504,608 shares during the period. Wellington Management Group LLP bought a new position in Amcor during the 4th quarter valued at approximately $155,438,000. Norges Bank purchased a new stake in Amcor in the 4th quarter worth approximately $47,669,000. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $195,946,000 after buying an additional 2,086,698 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after buying an additional 1,527,492 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Amcor stock opened at $11.08 on Tuesday. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.45. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $16.01 billion, a P/E ratio of 24.62, a PEG ratio of 2.68 and a beta of 0.85. The stock’s 50 day moving average is $10.76 and its 200 day moving average is $10.04.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. On average, equities research analysts predict that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 4.51%. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMCR shares. JPMorgan Chase & Co. raised their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company lifted their target price on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Stifel Nicolaus began coverage on shares of Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Citigroup upped their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird raised their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Amcor presently has a consensus rating of “Hold” and a consensus target price of $10.73.

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.