Amcor (NYSE:AMCR) PT Raised to $10.00

Amcor (NYSE:AMCR) had its price objective hoisted by JPMorgan Chase & Co. from $9.90 to $10.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Amcor Stock Performance

Shares of AMCR stock opened at $10.01 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.71 and a debt-to-equity ratio of 1.74. The company’s fifty day moving average price is $9.21 and its 200-day moving average price is $9.28. The stock has a market cap of $14.47 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 10.53 and a beta of 0.79. Amcor has a 12 month low of $8.45 and a 12 month high of $10.53.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts expect that Amcor will post 0.7 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.00%. The ex-dividend date is Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is 111.11%.

Hedge Funds Weigh In On Amcor

A number of hedge funds have recently bought and sold shares of AMCR. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Amcor by 12.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock valued at $2,377,000 after acquiring an additional 27,077 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Amcor by 0.6% during the third quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock valued at $517,349,000 after buying an additional 325,747 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Amcor by 20.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock worth $12,974,000 after buying an additional 227,145 shares in the last quarter. Barclays PLC increased its holdings in Amcor by 25.8% in the 3rd quarter. Barclays PLC now owns 4,055,670 shares of the company’s stock worth $37,152,000 after buying an additional 830,959 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Amcor by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,621,317 shares of the company’s stock worth $280,491,000 after buying an additional 594,034 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

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.