Amcor Stock Set to Reverse Split on Thursday, January 15th (NYSE:AMCR)

Amcor PLC (NYSE:AMCR)’s stock is scheduled to reverse split on the morning of Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 14th.

Amcor Stock Performance

NYSE:AMCR opened at $8.64 on Friday. The stock’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $8.62. Amcor has a twelve month low of $7.66 and a twelve month high of $10.45. The company has a quick ratio of 0.62, a current ratio of 1.04 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $19.91 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a net margin of 3.34% and a return on equity of 17.35%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 71.3% on a year-over-year basis. On average, analysts anticipate that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th were issued a $0.13 dividend. The ex-dividend date was Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 6.0%. Amcor’s dividend payout ratio is 152.94%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMCR. Truist Financial lifted their target price on Amcor from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $11.50 price target on shares of Amcor in a report on Wednesday, November 12th. JPMorgan Chase & Co. began coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, October 8th. Finally, Baird R W raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Institutional Investors Weigh In On Amcor

Several hedge funds have recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its position in shares of Amcor by 377.9% during the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after purchasing an additional 2,222 shares during the last quarter. Quent Capital LLC purchased a new stake in Amcor in the third quarter worth approximately $27,000. AdvisorNet Financial Inc grew its position in Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after acquiring an additional 2,704 shares during the last quarter. Adirondack Trust Co. purchased a new position in shares of Amcor during the second quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Amcor in the 2nd quarter worth approximately $33,000. Institutional investors own 45.14% of the company’s stock.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.