Fiduciary Trust Co Grows Holdings in Amcor plc (NYSE:AMCR)

Fiduciary Trust Co boosted its holdings in shares of Amcor plc (NYSE:AMCR) by 0.5% in the third quarter, HoldingsChannel reports. The fund owned 632,440 shares of the company’s stock after acquiring an additional 2,838 shares during the period. Fiduciary Trust Co’s holdings in Amcor were worth $7,166,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. M&G Plc boosted its stake in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Amcor during the second quarter valued at approximately $781,000. Cardinal Capital Management grew its holdings in shares of Amcor by 832.2% during the second quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock valued at $1,131,000 after buying an additional 103,213 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after acquiring an additional 124,945 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its holdings in Amcor by 30.1% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock worth $6,903,000 after acquiring an additional 140,850 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMCR. Wells Fargo & Company boosted their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Citigroup lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird increased their price objective 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Amcor currently has an average rating of “Hold” and an average price target of $10.94.

Amcor Stock Up 1.1 %

NYSE AMCR opened at $10.50 on Friday. The stock’s 50-day moving average price is $10.80 and its 200-day moving average price is $10.51. The company has a market capitalization of $15.18 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48.

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

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. Amcor’s payout ratio is 96.23%.

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.