Amcor (NYSE:AMCR) Upgraded at Truist Financial

Truist Financial upgraded shares of Amcor (NYSE:AMCR) from a hold rating to a buy rating in a report published on Monday, Marketbeat reports. They currently have $12.00 price target on the stock, up from their previous price target of $10.00.

Several other equities analysts also recently commented on the company. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Performance

Amcor stock opened at $9.55 on Monday. The stock has a market cap of $13.80 billion, a PE ratio of 18.02, a P/E/G ratio of 1.80 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor has a 12-month low of $8.78 and a 12-month high of $11.48. The business’s 50-day moving average price is $10.00 and its two-hundred day moving average price is $10.45.

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

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.34%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. Amcor’s payout ratio is currently 96.23%.

Institutional Investors Weigh In On Amcor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after acquiring an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after purchasing an additional 2,804,484 shares during the last quarter. M&G PLC grew its stake in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock worth $549,342,000 after acquiring an additional 2,775,794 shares during the period. AQR Capital Management LLC boosted its position in Amcor by 356.1% during the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after purchasing an additional 2,287,826 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Amcor by 4.8% in the 3rd 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. 45.14% of the stock is owned by institutional investors.

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.