Amcor PLC (NYSE:AMCR) Stock Holdings Lifted by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Amcor PLC (NYSE:AMCR - Free Report) by 15.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 68,105,901 shares of the company's stock after buying an additional 9,119,308 shares during the period. Vanguard Group Inc. owned 4.71% of Amcor worth $660,627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMCR. Rakuten Securities Inc. raised its stake in shares of Amcor by 18,725.0% in the 1st quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock valued at $29,000 after acquiring an additional 2,996 shares during the period. HM Payson & Co. purchased a new position in shares of Amcor in the 1st quarter valued at $30,000. Brentview Investment Management LLC purchased a new position in shares of Amcor in the 1st quarter valued at $31,000. CVA Family Office LLC raised its stake in shares of Amcor by 234.1% in the 1st quarter. CVA Family Office LLC now owns 3,254 shares of the company's stock valued at $32,000 after acquiring an additional 2,280 shares during the period. Finally, Quarry LP raised its stake in shares of Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after acquiring an additional 3,551 shares during the period. Hedge funds and other institutional investors own 45.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMCR shares. Truist Financial set a $11.00 target price on shares of Amcor and gave the company a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group started coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a "buy" rating and a $12.00 price target for the company. Wells Fargo & Company raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Robert W. Baird lowered their price target on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Friday. Finally, Raymond James Financial started coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.42.

Amcor Stock Down 0.3%

AMCR stock traded down $0.03 during mid-day trading on Friday, hitting $8.73. 65,218,352 shares of the company were exchanged, compared to its average volume of 24,568,416. The company has a market capitalization of $12.62 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.74. The company has a current ratio of 0.67, a quick ratio of 1.16 and a debt-to-equity ratio of 1.18. Amcor PLC has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a fifty day simple moving average of $9.42 and a 200 day simple moving average of $9.51.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%. Amcor's revenue was up 43.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. On average, research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, September 5th. Amcor's dividend payout ratio (DPR) is currently 141.67%.

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.