Thrivent Financial for Lutherans Purchases 3,019 Shares of Amcor plc (NYSE:AMCR)

Thrivent Financial for Lutherans grew its position in shares of Amcor plc (NYSE:AMCR) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,234 shares of the company’s stock after acquiring an additional 3,019 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Amcor were worth $1,850,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in Amcor during the third quarter worth $35,000. ORG Wealth Partners LLC bought a new stake in Amcor during the 3rd quarter worth about $35,000. Quent Capital LLC boosted its stake in shares of Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after acquiring an additional 2,519 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMCR. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Robert W. Baird upped 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. Citigroup lifted their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Trading Up 1.1 %

AMCR stock opened at $10.50 on Friday. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The stock has a market cap of $15.18 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company has a fifty day moving average price of $10.80 and a two-hundred day moving average price of $10.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. Amcor’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. Equities analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is 96.23%.

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.