Howard Capital Management Inc. Purchases New Shares in Amcor plc (NYSE:AMCR)

Howard Capital Management Inc. acquired a new position in Amcor plc (NYSE:AMCR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,660 shares of the company’s stock, valued at approximately $173,000.

Several other hedge funds have also modified their holdings of AMCR. XY Capital Ltd increased its holdings in Amcor by 246.8% in the 2nd quarter. XY Capital Ltd now owns 281,577 shares of the company’s stock worth $2,754,000 after acquiring an additional 200,394 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Amcor by 24.4% during the second quarter. National Bank of Canada FI now owns 397,463 shares of the company’s stock worth $3,816,000 after purchasing an additional 77,987 shares in the last quarter. TD Asset Management Inc boosted its holdings in Amcor by 1.3% in the 2nd quarter. TD Asset Management Inc now owns 1,138,894 shares of the company’s stock worth $11,138,000 after buying an additional 15,165 shares during the last quarter. Gries Financial LLC purchased a new stake in Amcor during the 2nd quarter worth approximately $135,000. Finally, Natixis Advisors LLC raised its holdings in shares of Amcor by 6.4% during the second quarter. Natixis Advisors LLC now owns 509,686 shares of the company’s stock valued at $4,985,000 after acquiring an additional 30,534 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMCR shares. Robert W. Baird boosted their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Citigroup increased their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their target price on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus started coverage on Amcor in a report on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price target for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.73.

Amcor Stock Performance

Shares of Amcor stock opened at $11.08 on Friday. The firm has a market cap of $16.01 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.45. The business’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $9.89.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Equities analysts forecast that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Friday, September 6th. Amcor’s dividend payout ratio is currently 111.11%.

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.