Northwestern Mutual Wealth Management Co. Acquires 6,686 Shares of Amcor plc (NYSE:AMCR)

Northwestern Mutual Wealth Management Co. grew its holdings in Amcor plc (NYSE:AMCR) by 333.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,693 shares of the company’s stock after purchasing an additional 6,686 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Amcor were worth $85,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its position in Amcor by 40.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 743,325 shares of the company’s stock valued at $7,069,000 after acquiring an additional 214,458 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Amcor by 244.2% in the 1st quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock valued at $986,000 after purchasing an additional 73,541 shares in the last quarter. M&G Plc grew 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 valued at $471,644,000 after purchasing an additional 45,504,608 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its position in Amcor by 60.0% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after purchasing an additional 225,441 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in Amcor by 236.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock valued at $15,675,000 after purchasing an additional 1,157,878 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Up 0.8 %

NYSE AMCR opened at $11.19 on Friday. Amcor plc has a 12 month low of $8.45 and a 12 month high of $11.48. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $16.17 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85. The business’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $10.21.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were issued a $0.125 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.47%. Amcor’s payout ratio is 98.04%.

Analysts Set New Price Targets

AMCR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Wells Fargo & Company increased their target price on Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.73.

About Amcor

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.