Commonwealth Equity Services LLC Purchases 80,301 Shares of Amcor plc (NYSE:AMCR)

Commonwealth Equity Services LLC raised its position in Amcor plc (NYSE:AMCR) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 904,377 shares of the company’s stock after purchasing an additional 80,301 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of Amcor worth $8,845,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. M&G Plc increased its stake 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 buying an additional 45,504,608 shares during the period. Wellington Management Group LLP acquired a new position in Amcor in the 4th quarter valued at approximately $155,438,000. Norges Bank bought a new position in shares of Amcor during the fourth quarter valued at $47,669,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after purchasing an additional 2,086,698 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Amcor by 2.1% in the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after purchasing an additional 1,170,986 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of AMCR opened at $11.23 on Friday. The firm has a market cap of $16.22 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. Amcor plc has a 52-week low of $8.45 and a 52-week high of $11.45. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. The business’s 50 day moving average price is $10.44 and its two-hundred day moving average price is $9.87.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Friday, September 6th. Amcor’s payout ratio is 111.11%.

Wall Street Analyst Weigh In

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

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.