Charles Schwab Investment Management Inc. Lowers Holdings in Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. trimmed its position in Amcor plc (NYSE:AMCR - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,381,716 shares of the company's stock after selling 239,601 shares during the period. Charles Schwab Investment Management Inc. owned 2.10% of Amcor worth $292,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Amcor by 12.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company's stock worth $2,377,000 after acquiring an additional 27,077 shares during the period. Vanguard Group Inc. grew its position in Amcor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company's stock worth $517,349,000 after purchasing an additional 325,747 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Amcor by 20.3% during the 4th quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company's stock valued at $12,974,000 after buying an additional 227,145 shares during the last quarter. Barclays PLC lifted its holdings in shares of Amcor by 25.8% in the 3rd quarter. Barclays PLC now owns 4,055,670 shares of the company's stock valued at $37,152,000 after buying an additional 830,959 shares during the period. Finally, Altrius Capital Management Inc boosted its stake in shares of Amcor by 0.8% in the fourth quarter. Altrius Capital Management Inc now owns 672,544 shares of the company's stock worth $6,483,000 after buying an additional 5,170 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price target on Amcor from $9.90 to $10.00 and gave the company an "overweight" rating in a report on Wednesday, May 1st.

Amcor Stock Performance

AMCR traded up $0.10 on Wednesday, reaching $10.22. The stock had a trading volume of 6,788,278 shares, compared to its average volume of 8,694,536. The business's 50-day moving average price is $9.27 and its two-hundred day moving average price is $9.32. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. Amcor plc has a 12-month low of $8.45 and a 12-month high of $10.45. The company has a market cap of $14.77 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. Amcor's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. Sell-side analysts forecast that Amcor plc will post 0.69 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.89%. Amcor's dividend payout ratio (DPR) is 111.11%.

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.