Code Waechter LLC Invests $221,000 in Amcor plc (NYSE:AMCR)

by · The Markets Daily

Code Waechter LLC acquired a new stake in Amcor plc (NYSE:AMCR – Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,522 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors also recently modified their holdings of the company. M&G Plc lifted its position in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Amcor in the fourth quarter worth approximately $155,438,000. AQR Capital Management LLC increased its stake in shares of Amcor by 356.1% in the second quarter. AQR Capital Management LLC now owns 2,930,317 shares of the company’s stock worth $28,659,000 after purchasing an additional 2,287,826 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after acquiring an additional 2,086,698 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Amcor by 11.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research reports. Stifel Nicolaus began coverage on Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target for the company. Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their price objective on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Robert W. Baird upped their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Amcor has an average rating of “Hold” and a consensus price target of $10.73.

Read Our Latest Stock Report on Amcor

Amcor Trading Up 0.8 %

NYSE AMCR traded up $0.09 during trading on Friday, hitting $11.19. The stock had a trading volume of 5,376,330 shares, compared to its average volume of 8,970,587. Amcor plc has a one year low of $8.45 and a one year high of $11.48. The stock has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $10.21. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.72 and a beta of 0.85. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17.

Amcor (NYSE:AMCR – Get Free Report) last released its earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. Sell-side analysts predict that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 6th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.47%. Amcor’s payout ratio is currently 98.04%.

About Amcor

(Free Report)

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.

Read More

Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor plc (NYSE:AMCR – Free Report).