Amcor (NYSE:AMCR) Upgraded at Macquarie

Macquarie upgraded shares of Amcor (NYSE:AMCR) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on AMCR. Robert W. Baird raised their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, 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 note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Amcor has a consensus rating of “Hold” and an average target price of $10.94.

Amcor Stock Performance

NYSE AMCR opened at $10.63 on Wednesday. The company has a fifty day moving average price of $10.80 and a 200-day moving average price of $10.51. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.89 and a beta of 0.85. 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 has a 1 year low of $8.78 and a 1 year high of $11.48.

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

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.80%. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. M&G Plc increased its holdings 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 worth $471,644,000 after buying an additional 45,504,608 shares during the period. SteelPeak Wealth LLC purchased a new position in Amcor in the 2nd quarter worth approximately $781,000. Cardinal Capital Management lifted its position in Amcor by 832.2% in the second quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock valued at $1,131,000 after purchasing an additional 103,213 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its holdings in shares of Amcor by 30.1% in the third quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock worth $6,903,000 after purchasing an additional 140,850 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Company 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.