Stifel Nicolaus Initiates Coverage on Amcor (NYSE:AMCR)

Stifel Nicolaus started coverage on shares of Amcor (NYSE:AMCR) in a research report report published on Tuesday morning, MarketBeat reports. The firm issued a hold rating and a $10.80 price objective on the stock.

AMCR has been the subject of several other reports. JPMorgan Chase & Co. raised their price target on Amcor from $9.90 to $10.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Wells Fargo & Company started coverage on shares of Amcor in a report on Friday, June 28th. They issued an equal weight rating and a $9.80 price target for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Amcor has an average rating of Hold and a consensus target price of $10.15.

Amcor Stock Performance

NYSE AMCR opened at $9.81 on Tuesday. The company has a fifty day moving average of $9.98 and a two-hundred day moving average of $9.55. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75. Amcor has a 1 year low of $8.45 and a 1 year high of $10.51. The company has a market capitalization of $14.18 billion, a PE ratio of 21.80, a P/E/G ratio of 4.96 and a beta of 0.86.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, analysts expect that Amcor will post 0.7 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new stake in shares of Amcor during the fourth quarter valued at approximately $155,438,000. Norges Bank bought a new stake in shares of Amcor during the fourth quarter worth approximately $47,669,000. Price T Rowe Associates Inc. MD increased its stake in shares of 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 valued at $195,946,000 after acquiring an additional 2,086,698 shares during the last quarter. M&G Plc acquired a new position in shares of Amcor in the 1st quarter valued at $16,598,000. Finally, Vanguard Group Inc. increased its stake in Amcor by 2.1% during the 1st 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 in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

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.