Franklin Resources Inc. Purchases 10,955 Shares of Amcor plc (NYSE:AMCR)

Posted by on Jun 2nd, 2023

Franklin Resources Inc. raised its position in shares of Amcor plc (NYSE:AMCR – Get Rating) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 539,869 shares of the company’s stock after acquiring an additional 10,955 shares during the quarter. Franklin Resources Inc.’s holdings in Amcor were worth $6,430,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Raymond James & Associates boosted its position in shares of Amcor by 13.9% during the 1st quarter. Raymond James & Associates now owns 222,899 shares of the company’s stock worth $2,525,000 after purchasing an additional 27,213 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Amcor by 33.0% during the 1st quarter. Private Advisor Group LLC now owns 26,878 shares of the company’s stock worth $304,000 after purchasing an additional 6,664 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Amcor by 23.3% during the 1st quarter. Natixis Advisors L.P. now owns 121,261 shares of the company’s stock worth $1,374,000 after purchasing an additional 22,888 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Amcor by 5.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 202,541 shares of the company’s stock worth $2,295,000 after purchasing an additional 10,101 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Amcor by 58.5% during the 1st quarter. Vontobel Holding Ltd. now owns 45,244 shares of the company’s stock worth $522,000 after purchasing an additional 16,707 shares in the last quarter. Institutional investors own 46.79% of the company’s stock.

Amcor Trading Up 0.8 %

AMCR opened at $9.72 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.27 and a quick ratio of 0.72. Amcor plc has a fifty-two week low of $9.60 and a fifty-two week high of $13.60. The firm has a market capitalization of $14.30 billion, a PE ratio of 14.73 and a beta of 0.80. The company’s 50-day moving average is $10.65 and its 200 day moving average is $11.36.

Amcor (NYSE:AMCR – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Amcor had a net margin of 6.54% and a return on equity of 27.94%. During the same quarter last year, the business posted $0.21 EPS. As a group, research analysts predict that Amcor plc will post 0.73 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Wednesday, May 24th will be paid a $0.1225 dividend. The ex-dividend date is Tuesday, May 23rd. This represents a $0.49 annualized dividend and a yield of 5.04%. Amcor’s dividend payout ratio (DPR) is 74.24%.

Analysts Set New Price Targets

AMCR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Amcor from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $11.60 to $10.80 in a research report on Wednesday, May 3rd. Morgan Stanley lowered shares of Amcor from an “equal weight” rating to an “underweight” rating in a report on Wednesday, February 8th. Finally, Jefferies Financial Group upgraded shares of Amcor from an “underperform” rating to a “hold” rating in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amcor presently has a consensus rating of “Hold” and an average price target of $10.80.

Amcor Company Profile

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Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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