Curbstone Financial Management Corp Takes Position in Amcor plc (NYSE:AMCR)

Curbstone Financial Management Corp purchased a new position in Amcor plc (NYSE:AMCR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,358 shares of the company's stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMCR. Marshall Wace LLP boosted its stake in Amcor by 303.9% during the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock worth $81,863,000 after buying an additional 6,545,689 shares during the last quarter. Wellington Management Group LLP boosted its stake in Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after buying an additional 5,614,233 shares during the last quarter. First Trust Advisors LP raised its position in Amcor by 474.7% in the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock valued at $50,837,000 after purchasing an additional 4,462,367 shares during the period. Invesco Ltd. raised its position in Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after purchasing an additional 4,199,209 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Amcor in the fourth quarter valued at $31,485,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Up 0.8%

NYSE AMCR traded up $0.07 during trading hours on Thursday, hitting $9.23. 21,550,165 shares of the company were exchanged, compared to its average volume of 19,568,852. The company has a 50 day moving average of $9.20 and a two-hundred day moving average of $9.63. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.96 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the business earned $0.13 EPS. Amcor's revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.53%. Amcor's dividend payout ratio (DPR) is 91.07%.

Wall Street Analyst Weigh In

A number of research firms have commented on AMCR. Truist Financial reduced their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Raymond James assumed coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.31.

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.