Charles Schwab Investment Management Inc. Has $292.88 Million Stake in Amcor plc (NYSE:AMCR)

Charles Schwab Investment Management Inc. lessened its position in Amcor plc (NYSE:AMCR) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,381,716 shares of the company’s stock after selling 239,601 shares during the period. Charles Schwab Investment Management Inc. owned 2.10% of Amcor worth $292,880,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Amcor by 1,619.5% in the third quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock valued at $30,000 after purchasing an additional 3,077 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Amcor in the third quarter worth approximately $38,000. McGlone Suttner Wealth Management Inc. bought a new stake in Amcor in the fourth quarter valued at approximately $40,000. Loomis Sayles & Co. L P increased its position in Amcor by 48.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company’s stock valued at $41,000 after purchasing an additional 1,445 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in Amcor during the 3rd quarter worth approximately $46,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Amcor Stock Performance

NYSE:AMCR traded up $0.09 during trading on Wednesday, reaching $10.21. The company’s stock had a trading volume of 2,597,498 shares, compared to its average volume of 8,645,301. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.45. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. The firm has a 50 day moving average of $9.27 and a 200-day moving average of $9.32.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the firm earned $0.18 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. Research analysts expect that Amcor plc will post 0.69 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.90%. The ex-dividend date is Tuesday, May 21st. Amcor’s dividend payout ratio (DPR) is presently 111.11%.

About Amcor

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.