Charles Schwab Investment Management Inc. Acquires 1,960,308 Shares of Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. grew its holdings in shares of Amcor plc (NYSE:AMCR) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 43,190,458 shares of the company’s stock after purchasing an additional 1,960,308 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.99% of Amcor worth $489,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 purchasing an additional 1,170,986 shares during the last quarter. M&G PLC grew its position in shares of Amcor by 5.9% during the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after acquiring an additional 2,775,794 shares during the period. M&G Plc raised its holdings in Amcor by 2,741.7% in the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after purchasing an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Amcor by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after purchasing an additional 2,086,698 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Amcor by 7.8% during the second quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock valued at $194,783,000 after buying an additional 1,443,364 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR opened at $10.47 on Friday. The business has a fifty day moving average of $10.86 and a 200 day moving average of $10.50. The stock has a market cap of $15.13 billion, a P/E ratio of 19.76, a PEG ratio of 1.78 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 4.87%. Amcor’s dividend payout ratio is 94.34%.

Analysts Set New Price Targets

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