Charles Schwab Investment Management Inc. Raises Position in Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. raised its holdings in Amcor plc (NYSE:AMCR) by 4.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 43,190,458 shares of the company’s stock after acquiring an additional 1,960,308 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Amcor were worth $489,348,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in Amcor in the third quarter valued at $35,000. ORG Wealth Partners LLC acquired a new position in Amcor in the third quarter valued at approximately $35,000. Quent Capital LLC grew its position in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $10.47 on Friday. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The firm’s 50 day moving average price is $10.86 and its 200-day moving average price is $10.50. The firm has a market cap of $15.13 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.78 and a beta of 0.85.

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

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 4.87%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is currently 94.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wells Fargo & Company increased their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Citigroup boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Amcor currently has an average rating of “Hold” and an average price target of $10.94.

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.