Amcor (NYSE:AMCR) Reaches New 1-Year High at $10.47

Amcor plc (NYSE:AMCRGet Free Report)’s share price hit a new 52-week high on Monday . The stock traded as high as $10.47 and last traded at $10.46, with a volume of 335132 shares trading hands. The stock had previously closed at $10.36.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price objective on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st.

View Our Latest Stock Analysis on AMCR

Amcor Stock Performance

The firm has a market capitalization of $15.06 billion, a PE ratio of 23.31, a P/E/G ratio of 5.65 and a beta of 0.79. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. The firm has a fifty day moving average price of $9.35 and a 200 day moving average price of $9.36.

Amcor (NYSE:AMCRGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. Research analysts anticipate that Amcor plc will post 0.7 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 22nd will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Tuesday, May 21st. Amcor’s dividend payout ratio is currently 111.11%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Ontario Teachers Pension Plan Board acquired a new position in Amcor in the 1st quarter worth about $923,000. Vanguard Group Inc. increased its holdings in shares of Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after acquiring an additional 1,170,986 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of Amcor by 106.3% during the 1st quarter. Mizuho Markets Americas LLC now owns 1,081,458 shares of the company’s stock valued at $10,285,000 after acquiring an additional 557,358 shares during the last quarter. M&G Plc acquired a new position in shares of Amcor during the 1st quarter valued at about $16,598,000. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of Amcor by 10.6% during the 1st quarter. Tocqueville Asset Management L.P. now owns 491,164 shares of the company’s stock valued at $4,671,000 after acquiring an additional 46,925 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Company Profile

(Get Free Report)

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.

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