M&G Plc Invests $16.60 Million in Amcor plc (NYSE:AMCR)

M&G Plc bought a new position in shares of Amcor plc (NYSE:AMCR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,659,750 shares of the company’s stock, valued at approximately $16,598,000. M&G Plc owned 0.11% of Amcor as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AMCR. NorthRock Partners LLC boosted its holdings in shares of Amcor by 2.0% during the first quarter. NorthRock Partners LLC now owns 54,237 shares of the company’s stock worth $516,000 after acquiring an additional 1,050 shares during the period. Wealth Alliance boosted its stake in Amcor by 1.9% in the 4th quarter. Wealth Alliance now owns 55,592 shares of the company’s stock valued at $536,000 after purchasing an additional 1,061 shares during the period. Czech National Bank grew its holdings in Amcor by 0.5% in the 1st quarter. Czech National Bank now owns 254,309 shares of the company’s stock valued at $2,418,000 after buying an additional 1,166 shares in the last quarter. Global Retirement Partners LLC increased its position in Amcor by 17.0% during the 4th quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock worth $80,000 after buying an additional 1,222 shares during the period. Finally, MV Capital Management Inc. lifted its holdings in shares of Amcor by 33.7% during the fourth quarter. MV Capital Management Inc. now owns 5,193 shares of the company’s stock worth $50,000 after buying an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

AMCR has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. 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 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Amcor in a report on Friday, June 28th. They set an “equal weight” rating and a $9.80 target price on the stock. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.15.

Amcor Price Performance

Shares of NYSE AMCR traded down $0.21 during mid-day trading on Friday, reaching $10.11. The company had a trading volume of 30,032,903 shares, compared to its average volume of 8,340,811. Amcor plc has a one year low of $8.45 and a one year high of $10.51. The business’s 50-day simple moving average is $9.97 and its 200 day simple moving average is $9.57. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 4.46 and a beta of 0.86.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were paid a $0.125 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.95%. Amcor’s payout ratio is currently 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.