Price T Rowe Associates Inc. MD Has $195.95 Million Stock Position in Amcor plc (NYSE:AMCR)

Price T Rowe Associates Inc. MD lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,604,159 shares of the company’s stock after purchasing an additional 2,086,698 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.43% of Amcor worth $195,946,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMCR. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Amcor during the 4th quarter worth $40,000. Global Retirement Partners LLC grew its stake in Amcor by 17.0% in the 4th quarter. Global Retirement Partners LLC now owns 8,397 shares of the company’s stock valued at $80,000 after buying an additional 1,222 shares during the last quarter. Fifth Third Bancorp grew its stake in Amcor by 50.7% in the 4th quarter. Fifth Third Bancorp now owns 72,267 shares of the company’s stock valued at $697,000 after buying an additional 24,324 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC grew its stake in Amcor by 11.8% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 29,973 shares of the company’s stock valued at $288,000 after buying an additional 3,169 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Amcor by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 564,909 shares of the company’s stock valued at $5,485,000 after buying an additional 9,710 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company assumed coverage on shares of Amcor in a research note on Friday, June 28th. They issued an “equal weight” rating and a $9.80 target price on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 target price on the stock. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.15.

Amcor Stock Performance

Amcor stock traded up $0.03 during mid-day trading on Monday, reaching $10.41. The company had a trading volume of 6,079,419 shares, compared to its average volume of 8,809,493. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76. Amcor plc has a 52 week low of $8.45 and a 52 week high of $10.51. The company has a 50 day moving average of $9.95 and a 200-day moving average of $9.58. The firm has a market cap of $15.05 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 4.58 and a beta of 0.86.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating 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 firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts expect that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

About Amcor

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.