Amcor (NYSE:AMCR) Upgraded to “Hold” at BMO Capital Markets

BMO Capital Markets upgraded shares of Amcor (NYSE:AMCR) to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on AMCR. Wells Fargo & Company set a $43.00 target price on Amcor and gave the company an “equal weight” rating in a research report on Wednesday. Truist Financial reissued a “buy” rating and issued a $51.00 price objective (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Citigroup decreased their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Bank of America boosted their price objective on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.40.

Amcor Trading Down 2.0%

Shares of NYSE:AMCR opened at $43.96 on Thursday. The stock’s 50-day simple moving average is $40.65 and its two-hundred day simple moving average is $42.18. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.41 and a beta of 0.62. Amcor has a 52-week low of $36.25 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 77.4% on a year-over-year basis. Analysts expect that Amcor will post 3.97 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s payout ratio is 181.82%.

Institutional Trading of Amcor

Large investors have recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its stake in shares of Amcor by 74.6% during the fourth quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after purchasing an additional 147,639 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Amcor during the 4th quarter worth $262,000. Vanguard Group Inc. lifted its stake in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after purchasing an additional 1,845,627 shares during the last quarter. Code Waechter LLC boosted its position in Amcor by 105.1% during the fourth quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock valued at $451,000 after purchasing an additional 27,725 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Amcor by 64.0% during the fourth quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock valued at $2,034,000 after purchasing an additional 94,753 shares in the last quarter. 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.