Meiji Yasuda Life Insurance Co Boosts Holdings in Amcor plc (NYSE:AMCR)

Meiji Yasuda Life Insurance Co raised its stake in shares of Amcor plc (NYSE:AMCR) by 364.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 47,500 shares of the company’s stock after buying an additional 37,282 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Amcor were worth $465,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMCR. Riverview Trust Co purchased a new stake in Amcor during the first quarter worth $28,000. 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 acquiring an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amcor by 132.8% during 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 during the period. UMB Bank n.a. increased its stake in shares of Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in Amcor in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AMCR shares. JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Citigroup upped 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 Tuesday, August 20th. Robert W. Baird lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. 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 price target for the company. Finally, 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 report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.73.

Amcor Stock Performance

AMCR opened at $11.02 on Thursday. The firm has a market capitalization of $15.93 billion, a PE ratio of 24.49, a PEG ratio of 2.68 and a beta of 0.85. Amcor plc has a twelve month low of $8.45 and a twelve month high of $11.45. The firm’s 50-day moving average price is $10.69 and its 200 day moving average price is $10.00. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last posted its quarterly 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. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. As a group, sell-side analysts expect that Amcor plc will post 0.75 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 4.54%. Amcor’s payout ratio is 111.11%.

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.