Amcor (NYSE:AMCR) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Amcor (NYSE:AMCR) in a report issued on Friday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $9.80 price objective on the stock.

Separately, JPMorgan Chase & Co. boosted their target price on Amcor from $9.90 to $10.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $9.93.

Amcor Stock Down 0.3 %

NYSE:AMCR opened at $9.78 on Friday. The company has a market capitalization of $14.14 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 5.33 and a beta of 0.85. Amcor has a one year low of $8.45 and a one year high of $10.51. The stock has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $9.55. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the company posted $0.18 earnings per share. Amcor’s revenue was down 7.0% on a year-over-year basis. Sell-side analysts predict that Amcor will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.50 annualized dividend and a dividend yield of 5.11%. Amcor’s payout ratio is 111.11%.

Institutional Trading of Amcor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Amcor by 12.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock worth $2,377,000 after buying an additional 27,077 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Amcor by 173.4% during the fourth quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock worth $3,006,000 after purchasing an additional 197,760 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Amcor by 0.6% during the third quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock worth $517,349,000 after purchasing an additional 325,747 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in shares of Amcor by 60.0% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 601,225 shares of the company’s stock worth $5,718,000 after purchasing an additional 225,441 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Amcor by 20.3% in the fourth 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 during the period. Institutional investors own 45.14% of the company’s stock.

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.