Amcor (NYSE:AMCR) PT Raised to $10.00

Amcor (NYSE:AMCR) had its price target increased by JPMorgan Chase & Co. from $9.90 to $10.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Amcor Stock Up 1.4 %

Shares of NYSE:AMCR opened at $10.01 on Wednesday. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 5.39 and a beta of 0.79. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.71. The business’s 50-day moving average is $9.23 and its 200-day moving average is $9.29. Amcor has a 1 year low of $8.45 and a 1 year high of $10.53.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts predict that Amcor will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Tuesday, May 21st. Amcor’s dividend payout ratio is 111.11%.

Institutional Trading of Amcor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Amcor by 12.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock valued at $2,377,000 after buying an additional 27,077 shares in the last quarter. Vanguard Group Inc. increased its position in Amcor by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock valued at $517,349,000 after buying an additional 325,747 shares in the last quarter. Handelsbanken Fonder AB increased its position in Amcor by 20.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock valued at $12,974,000 after buying an additional 227,145 shares in the last quarter. Barclays PLC increased its position in Amcor by 25.8% in the 3rd quarter. Barclays PLC now owns 4,055,670 shares of the company’s stock valued at $37,152,000 after buying an additional 830,959 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Amcor by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,621,317 shares of the company’s stock valued at $280,491,000 after buying an additional 594,034 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

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.