Amcor (NYSE:AMCR) Shares to Reverse Split on Thursday, January 15th

Amcor PLC (NYSE:AMCR)’s stock is scheduled to reverse split before the market opens on Thursday, January 15th. The 1-5 reverse split was announced on Thursday, December 11th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 14th.

Amcor Trading Up 1.2%

Shares of Amcor stock opened at $8.57 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.62 and a current ratio of 1.04. Amcor has a 52 week low of $7.66 and a 52 week high of $10.45. The stock has a 50 day moving average price of $8.33 and a two-hundred day moving average price of $8.63. The stock has a market capitalization of $19.75 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 0.83 and a beta of 0.68.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a return on equity of 17.35% and a net margin of 3.34%.The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the firm earned $0.16 earnings per share. Amcor’s revenue for the quarter was up 71.3% on a year-over-year basis. As a group, equities analysts anticipate that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th were issued a dividend of $0.13 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Friday, November 28th. Amcor’s dividend payout ratio is 152.94%.

Analyst Ratings Changes

AMCR has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. The Goldman Sachs Group started coverage on Amcor in a research report on Wednesday, September 10th. They issued a “buy” rating for the company. Morgan Stanley restated an “overweight” rating and set a $11.50 price objective on shares of Amcor in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price for the company in a research note on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Amcor presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Institutional Investors Weigh In On Amcor

Several large investors have recently made changes to their positions in AMCR. State of Alaska Department of Revenue boosted its stake in shares of Amcor by 51.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock valued at $4,266,000 after purchasing an additional 158,082 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amcor by 71.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock worth $22,483,000 after buying an additional 1,019,306 shares during the period. Sound Income Strategies LLC lifted its holdings in Amcor by 54,855.7% in the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock worth $5,561,000 after buying an additional 603,961 shares during the period. Prudential Financial Inc. boosted its position in Amcor by 124.5% during the 2nd quarter. Prudential Financial Inc. now owns 395,591 shares of the company’s stock valued at $3,635,000 after acquiring an additional 219,390 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Amcor during the 2nd quarter worth approximately $328,839,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Company Profile

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.