Amcor plc (NYSE:AMCR) Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC raised its holdings in Amcor plc (NYSE:AMCR) by 6.1% during the 3rd quarter, Holdings Channel reports. The firm owned 18,961 shares of the company’s stock after buying an additional 1,085 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Amcor were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMCR. M&G Plc boosted its stake in shares of Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Amcor by 236.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock worth $15,675,000 after acquiring an additional 1,157,878 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Amcor in the second quarter worth approximately $781,000. Vanguard Group Inc. boosted its stake in shares of Amcor by 2.1% in the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after acquiring an additional 1,170,986 shares during the last quarter. Finally, Cardinal Capital Management boosted its stake in shares of Amcor by 832.2% in the second quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock worth $1,131,000 after acquiring an additional 103,213 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

NYSE:AMCR opened at $10.22 on Monday. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $14.77 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.84 and a beta of 0.85. The stock’s fifty day moving average is $10.92 and its two-hundred day moving average is $10.50.

Amcor (NYSE:AMCR) last posted its 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 company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 94.34%.

Analyst Upgrades and Downgrades

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