Meiji Yasuda Asset Management Co Ltd. Has $564,000 Stock Holdings in Amcor plc (NYSE:AMCR)

Meiji Yasuda Asset Management Co Ltd. decreased its stake in Amcor plc (NYSE:AMCR) by 96.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,659 shares of the company’s stock after selling 1,551,000 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Amcor were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in Amcor during the 1st quarter valued at $28,000. Quent Capital LLC lifted its stake in Amcor by 51.8% in 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 boosted its position in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the period. UMB Bank n.a. grew its stake in Amcor by 38.7% during the 2nd 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 in the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Amcor in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. 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 objective on the stock. Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Citigroup lifted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Amcor currently has a consensus rating of “Hold” and an average price target of $10.73.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.90 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The stock has a market capitalization of $15.75 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.68 and a beta of 0.85. The business has a 50-day moving average of $10.73 and a two-hundred day moving average of $10.02. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.45.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Friday, September 6th. Amcor’s dividend payout ratio is 111.11%.

Amcor 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.