Amcor plc (AMCR) to Issue Quarterly Dividend of $0.13 on March 19th

Amcor plc (NYSE:AMCRGet Free Report) declared a quarterly dividend on Tuesday, February 6th, RTT News reports. Shareholders of record on Wednesday, February 28th will be given a dividend of 0.125 per share on Tuesday, March 19th. This represents a $0.50 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Tuesday, February 27th.

Amcor has increased its dividend by an average of 2.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Amcor has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amcor to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 68.5%.

Amcor Trading Up 2.1 %

NYSE AMCR opened at $9.37 on Thursday. Amcor has a 12 month low of $8.45 and a 12 month high of $11.55. The stock has a market cap of $13.55 billion, a P/E ratio of 14.20, a P/E/G ratio of 6.09 and a beta of 0.80. The stock’s fifty day moving average price is $9.58 and its 200-day moving average price is $9.39. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 1.76.

Wall Street Analysts Forecast Growth

Separately, Truist Financial decreased their target price on Amcor from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.40.

Check Out Our Latest Stock Report on Amcor

Insider Buying and Selling at Amcor

In other Amcor news, Director Arun Nayar sold 10,261 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $9.39, for a total transaction of $96,350.79. Following the completion of the transaction, the director now owns 52,527 shares in the company, valued at approximately $493,228.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amcor

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in Amcor by 10.2% during the 1st quarter. State Street Corp now owns 112,644,781 shares of the company’s stock valued at $1,276,265,000 after acquiring an additional 10,472,157 shares during the period. Vanguard Group Inc. boosted its holdings in Amcor by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 56,742,108 shares of the company’s stock valued at $642,887,000 after acquiring an additional 358,145 shares during the period. Geode Capital Management LLC boosted its holdings in Amcor by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 30,845,588 shares of the company’s stock valued at $350,227,000 after acquiring an additional 585,881 shares during the period. Invesco Ltd. boosted its holdings in Amcor by 40.9% during the 1st quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock valued at $306,797,000 after acquiring an additional 7,854,257 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Amcor by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,967,874 shares of the company’s stock valued at $271,556,000 after acquiring an additional 1,564,919 shares during the period. Hedge funds and other institutional investors own 49.52% of the company’s stock.

About Amcor

(Get 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.

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Dividend History for Amcor (NYSE:AMCR)

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