Amcor plc (NYSE:AMCR) Stake Lifted by CreativeOne Wealth LLC

CreativeOne Wealth LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 37.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,369 shares of the company’s stock after purchasing an additional 32,453 shares during the period. CreativeOne Wealth LLC’s holdings in Amcor were worth $1,352,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMCR. M&G PLC grew its stake in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. M&G Plc grew its position in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after buying an additional 45,504,608 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after buying an additional 1,960,308 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Amcor by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after acquiring an additional 1,443,364 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after acquiring an additional 1,527,492 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of AMCR opened at $10.50 on Friday. The business’s 50-day moving average is $10.80 and its 200-day moving average is $10.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.89 and a beta of 0.85. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Equities research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 4.86%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Citigroup lifted their target price 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. Wells Fargo & Company upped their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.94.

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.