Commerzbank Aktiengesellschaft FI Makes New $3.13 Million Investment in Amcor PLC $AMCR

Commerzbank Aktiengesellschaft FI purchased a new stake in Amcor PLC (NYSE:AMCR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 72,113 shares of the company’s stock, valued at approximately $3,126,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp raised its position in shares of Amcor by 1.7% during the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after purchasing an additional 2,432,340 shares during the period. M&G PLC boosted its position in shares of Amcor by 6.1% in the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after purchasing an additional 6,655,611 shares during the period. Vanguard Group Inc. boosted its position in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Amcor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock worth $701,356,000 after purchasing an additional 2,036,667 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock worth $533,487,000 after purchasing an additional 262,418 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR stock opened at $45.51 on Tuesday. The firm has a 50 day simple moving average of $43.73 and a 200 day simple moving average of $42.61. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The stock has a market cap of $21.04 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.09 and a beta of 0.62. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.42 and a current ratio of 0.74.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. Research analysts anticipate that Amcor PLC will post 4.24 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, September 4th. Amcor’s payout ratio is currently 110.17%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Amcor in a report on Friday, August 7th. Wells Fargo & Company raised their target price on shares of Amcor from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday. Jefferies Financial Group set a $44.92 target price on shares of Amcor and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Citigroup restated a “buy” rating and set a $52.00 price target (up from $47.00) on shares of Amcor in a report on Friday. Finally, Bank of America upped their price target on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.49.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.